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Strategies & Market Trends : The picks
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To: dave michaels who wrote (6072)8/26/1997 3:04:00 PM
From: Steve Robinett   of 6124
 
Dave,
I'd almost forgotten I did that trade. AOL ran up to 75 a couple of days ahead of earnings (my strategy was to play the selloff after earnings), I bought 70 puts, AOL dropped to about 69 two days ahead of earnings, I sold. End of trade. I find puts or calls very good for short-term, specific event plays, in this case earnings. On fundamentals, I still think AOL is overpriced with an outmoded business model and searching for a new way to say alive--but that's a whole different ballgame than short-term plays.
Best,
Steve
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