Qualcomm Incorporated (QCOM) Message Board

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Technology Stocks : Qualcomm Incorporated (QCOM)

QCOM 171.02

-1.5%

Dec 31 3:59 PM EST

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To: RoseCampion who wrote (56533)	12/23/1999 8:17:00 PM
From: edamo	Read Replies (1) of 152472

rose..re: leaps.... verbose but accurate.... i'll repeat what i said to the fly girl... long call(leap or short term)=long common only thing you can do with the position once you buy it is to sell it. (unless you exercise, then it becomes common and the above applies!) uncle franks analogy to trading in an old car on new was a bit amusing...he forgets the immediate depreciation when you take the new car off the lot...swapping a lesser depreciating asset for a higher depreciating asset, and paying to do so is not prudent. brokers and traders, as do car salesmen love it! buy the ferrari...it's more fun.... the sell side is the only position where rolling is advantageous... e.g....sold some cmgi jan100 calls....stock rockets, i can give it up in jan with a 100% profit...i rolled forward to 02100, single transaction got a fixed 26 point spread...worse case i collect 12.5% per annum to hold...best case it continues so deep it gets called in a few months..or as it deepens the prem to buy back gets about neutral, i close with a bit more then in jan.(side comment to pal....close today, gives me added 4% from when the position was rolled)

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