How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 492.01

+1.3%

Nov 28 9:30 AM EST

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To: Teflon who wrote (29021)	9/1/1999 10:13:00 PM
From: edamo	Read Replies (1) of 74651

teflon...msft sept120put sale looks bullish....don't think it was msft...read the news release it was part of a reverse conversion of jan90 puts (13.2k traded) perhaps owner of 90's trying to recoup existing loss as 90's probably bought otm and have eroded timewise and appreciation wise...sold the 90's bought the 120's..........if this is the case the professional bear hedger doubts 90 or below by expiration but maybe in 11 days, may have taken the position early august and it went against him..trying to salvage......120 seller makes money above 92.....buyer below 98 (28-6=22, 120-22=98). logic would think just to close position, but not sure of circumstances as in hedges in place....sounds dumb...but remember long term capital... just a thought..

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