Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 165.07

-1.0%

Nov 18 3:59 PM EST

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To: A.L. Reagan who wrote (48485)	11/8/1999 8:41:00 PM
From: LLCF	Read Replies (1) of 152472

Perhaps I can help illuminate your decision: <I bought an equal number of shares this a.m. at $290 (on margin), so I can deliver same at $260 next month if called (the $30 ps hickey being a lot more pleasant than $45-$48ps).> <But now it looks like I've doubled-up my risk (beta, etc.) on Q*. But is this really true? Not unless we go below $260. > By writing calls on you're position you turn your long stock position into a short put position. So if you have the Dec260 buywrite on AND own the stock, your position is that you own the stock and are short the 260 put. What you have elected to do in buying the stock vs covering the calls is sold [or stayed short] the Dec260put to try and recover some of your trading losses. Hope this helps. DAK

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