Options Message Board - Msg: 12384838

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Strategies & Market Trends : Options

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To: Vendit™ who wrote (27)	12/26/1999 3:54:00 PM
From: steve mamus	Read Replies (4) of 8096

Congratulations to the creators of this board (I can't stand the term "thread" don't know why it just makes me crazy). On to business. Several folks have alluded to option strategies for this week and the month of January. I have been a very, very aggressive seller of puts and also hold a very large long term position in the common. I must say that I am bewildered about what to expect this week in QCOM's price. I usually have a pretty good sense of what to expect. SO, I would love some comments from anyone about what they expect in terms of price movement this week. Early last week I closed in aggressive fashion a large number of positions by buying back puts in the QCOM 500+ range. I also have covered calls as a hedge (July 500 and 550 in 100% of IRA positions) and 1/4 of taxable positions. If QCOM approaches 500+ into the split I would probably add more 550 covered calls in the post 1/2000 time period. I have use covered calls to generate cash to diversify into other positions (JDSU, CMGI, ICGE, VRSN,SEBL among others) and to try to modify risk somewhat. Because of capital appreciation I also have the conservative allotment of 50-100% of various portfolios being in QCOM stock).

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