America On-Line: will it survive ...? Message Board

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Technology Stocks : America On-Line: will it survive ...?

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To: Getcher who wrote (4502)	8/17/1997 2:43:00 PM
From: J.S.	of 13594

I thought the last few minutes of Thursday's trading was key. The price was boosted away from 65 to 67 where it stayed. If I had a large short position, I would have done the following expiration week: Sell puts (covered) at 65, Cover a part of my short position as it neared 65 thereby locking in a profit on the stock, preserving my premium for the puts, and permitting me to write some more puts on the rest of my short position at 65 for September. If my short sales were at least in the high sixties, with the sets of premiums I would be very pleased and have a good cushion to unwind my position if the market turned aginst me. It did not take too much to move the price around last week, so a few well timed buys (such as the one late Thurs.) would have done the trick. I guess this demonstrates again how the shorts interest can keep this tock up. BTW, AOL "incestment" was a typo, of course, especially given the recent discussion of the relationship between Steve Case and the investment community. <vbg> Joe

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