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Technology Stocks : CMGI What is the latest news on this stock?
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To: Mark Peterson CPA who wrote (10209)6/16/1999 7:20:00 PM
From: Kayaker  Read Replies (2) of 19700
 
...you could have purchased the June 90 CMGI puts for 2 - 2 3/8 as a hedge against your net long position. I did.

It didn't occur to me that I should have done exactly that. Yesterday, or better still, last week. With the CPI numbers coming it was the obvious thing to do. Sometimes I miss the obvious.

I often think that a bit of fine tuning like this can make all the difference. At least hedge against a possible meltdown. It's not very expensive to do, not a very big percentage of the upside.

I was too busy looking at the other side -- sitting with 75% cash yesterday -- searching for a strategy. I was thinking of investing half the money to ride a possible move up, but it felt too risky. It finally occurred to me to buy some cheap June calls that I could exercise if the CPI numbers were good. So I bought 10 June 80 calls for 2.50 late yesterday and can now pick up 1000 shares of CMGI for $80 by the end of Friday. If the CPI numbers were bad, it wouldn't have cost too much. Details, details.
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