Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Gordon A. Langston who wrote (8860)	5/16/1998 10:35:00 PM
From: Joey Two-Cents	of 18691

<JTC could you update on your LEAP puts on US Banks?> I pulled the trigger a little too soon on these and I haven't gotten a quote in a few weeks but should be down. I bought some CMB 80's & BT 85's paid $ 2 for the CMB's & $ 1 for the BT's. These stocks were trading at $ 100 in Novemeber (after the 1st Asian shock) and if they revisit that price in the next 12 months I'll be ahead of the game. The way I look at it, it's like shorting BT stock last year when it was at $ 85 and knowing in 1 1/2 yrs you at worst will close out your position with $ 1 loss. One other thing I was looking into was gold $ 390 strike price calls of 11/99's for $ 1.70 (symbol is GCZ9). This means for every contract you buy you control 100oz's of gold. The downside is you lose $ 170 if gold is below $ 390 in Nov 1999, upside potential the moon. Lets say gold goes to $ 500 your $ 170 bet would be worth $ 11,000.

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