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Strategies & Market Trends : Options
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To: Poet who wrote (2865)2/13/2000 5:03:00 PM
From: Ritch   of 8096
 
Poet -

About a week ago the discount between ETEK and JDSU was 20%. That discount has now dropped to less than 10%. I bought some ETEK July 200's about 2 weeks ago.

While I still think it is a good play, the gap between the two has narrowed significantly in the last week. (Still nothing wrong with getting stock at a discount<g>). Looks like the street is getting comfortable that the deal will be completed. The more comfortable the street gets, the more the discount will erode.

I still have not heard of a definite closing date for this deal, but think it will be done by the end of the second quarter. Once the closing date is officially announced, the discount will probably erode some more. You may want to look at the July Calls, or if you wait until a week from Monday, the Oct's should be available. (But the discount could erode some more by then).

Ritch
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