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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: Poet who wrote (52092)11/30/1999 11:54:00 PM
From: waverider  Read Replies (4) of 152472
 
Poet...

Here's my take FWIW. I sold my Jan 400's yesterday morning and my Jan 330's this morning. I did NOT like the way the premiums were eroding so quickly. If we flatline for the rest of the month...which is a possibility...those calls would end up being worth A LOT less (with the 400's being worthless). Regardless of what others may feel here, we are NOT guaranteed further upside for December.

I have raised this issue before but...the world now knows about Q and the split...who is left to buy the stock?
-We've had our pre split run up
-We've had our Santa Claus rally
-The handset sale is already factored in

That said, holding the stock would be fine, but playing the dice with Jan calls at this point is not prudent...especially with the way the premium has been eroding. The street is telling us something.

On 11/15 the Jan 400's were going for 40 3/4 when the stock was at 365. The stock is at 362 now and the calls are going for 31 3/4...almost a 10 point difference in two weeks. Not good.

I'm putting new money now into LEAP's on GBLX and I'm waiting for $200 on JDSU to pick up some stock there...or maybe some May calls on OCLI to pick up the 10% discount.

Good Luck
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