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Technology Stocks : All About Sun Microsystems

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To: hoyasaxa who wrote (17250)	6/21/1999 7:07:00 PM
From: Alok Sinha	Read Replies (1) of 64865

That is what I did today. Sold July 67.5 and July 70 calls. Bought July 60 Puts at the end of the day with some of the call premium. Based on recent history, we may have a couple of days of consolidation and a move back to low,mid 60s as we approach Fed rate announcement. Long term position in stock kept intact. Based on a marginal 35% tax rate on short term gains, moving in and out of the stock can eliminate a substantial portion from the 4.5 point move. Regards Alok

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