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Strategies & Market Trends : Options
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To: Poet who wrote (1881)1/29/2000 6:13:00 PM
From: KY  Read Replies (3) of 8096
 
Wondering if somebody can critique this QCOM call strategy:

Assumption -- Within the next 7 weeks QCOM will hit bottom (somewhere) and will rally off its lows until it hits stiff resistance at 140. At this point, QCOM will head back down once again.

Option Play -- QCOM 100 Calls at about 18.

Potential -- If 140 is reached by March expiration, profit potential of 22. Of course, may not necessarily wait until QCOM hits 140 (if I am so lucky to see the price rise over 118).

Any comments on the above scenario would be much appreciated. Thanks.

KY
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