How high will Microsoft fly? Message Board

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Technology Stocks : How high will Microsoft fly?

MSFT 508.16

-0.6%

12:47 PM EST

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To: Teflon who wrote (29691)	9/17/1999 4:51:00 PM
From: Exacctnt	Read Replies (1) of 74651

Teflon, I thought I'd relate to you what happened with my option trading today. Like you, I bought some Sept 90's yesterday at 2 1/8 and sold at 6. I also bought $1k worth of Sept 95's yesterday at 1/8 and $1k of Sept 95's today at 1/4. To me, this was pure speculation (or gambling) with a "let it ride" attitude. My finger was on the sell button all day today and I was going to sell at the first sign of deterioration of the market. So, I held through the struggle getting past the 96 barrier and the various drops back in the mid 95 range. I held on because the S&P and dow showed strength. WIth 15 minutes of trading left and MSFT once again struggling through 96, I made my move to sell. But, wouldn't you know it, Chuckie Schwab locked up on my computer so I was unable to access real time quotes plus as time was ticking by, the screens at the site were taking forever to respond to my pounding on the keyboard. So with 5 minutes of trading left I reverted to the phone and called Schwab. The final minute of trading was fast and furious and with the closing bell sounding, I had to place a sell order at 1 1/4 even though MSFT closed at 76 7/16. I seem to fall into the same trap every expiration day by waiting until the last minute to settle my trades. At first I was disgusted with Schwab and myself for not getting the best price, but then, upon reflection I realized that the contracts that I bought for 1/8 provided a 900% return and the ones that I bought for 1/4 gave me a 400% return. Who was it that said MSFT option trading wasn't profitable. Regards

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