Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 166.81

-4.1%

Nov 17 3:59 PM EST

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To: Jim Willie CB who wrote (32394)	6/15/1999 11:48:00 PM
From: Morgan Drake	Read Replies (3) of 152472

When guys have sold options which are now deep in the money, they either redeem the options (with cash) or they let the stock go. I would never go back into the market and buy stock to cover a previously covered call sale. Before I could buy back the options and then sell new calls at the higher price, I would first have to come up with the cash to buy back the previously sold options before I would be permitted to sell new calls on my existing stock holdings. Or so I think. Thus, option expiration should not create additional demand/supply for the stock. It may, however, lead to stock price manipulation by those long/short options at a particular strike for June. Morgan

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