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Strategies & Market Trends : Options

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To: Sdgla who wrote (306)	12/28/1999 8:23:00 PM
From: Poet	of 8096

Stuart, First of all, congratulations on your Q calls! You've done very well. The answer to your question is dependent upon the following: How much Q stock you already own. Are you interested in having as many shares as possible starting in 2000? How much cash you have (or how much are you willing to go on margin) to exercise your calls. Your view of QCOM's (and the market's in general) movement this spring. Do you think you'll be able to buy the common for less than $505.50 (your strike price plus the premium you paid for the highest calls), split-adjusted ( ie.$126 3/8). It sounds to me like you are willing and able to exercise some of these calls. Remember that each call will be divided into four, so this may help you exercise that extra 100 shares or so. For me, I've got 5 Jan 290's and 5 Jan 370's that I will try to exercise as much of as I can, as I'm trying to accumulate as much of the common as I can. This will allow me to to have the equity to be able to collect as many of those luscious crumbs as PAL and edamo have so eloquently described. And yes, I'll still buy Q calls on any pullback!

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