Ah Steve, you're relentless. <ggg>
Yep, I did the Poet version of that trade: I sold ten of the Sept 210's at $51 and will try to have the patience to ride it all the way down as well. A brilliant play on your part.
As I write this, the CNBC heads are reporting Payne Webber's rave about JDSU and price target of $330.
I've heard on QCOM front that China has announced they're delaying the introduction of CDMA (QCOM's technology) indefinitely. This is possibly a ploy to strongarm the WTO into sdmitting them. Needless to say, those of us who wrote cc's on our QCOM yesterday afternoon are breathing easier. I was looking at a 25k paper loss on the Mar $145's I'd written two days ago, not to mention the possibility of having a third of my shares called away.
I've decided it's protective puts for me in the future, rather than cc,s, although I've lucked out in this situation. So if I start mentioning writing calls on my QCOM at some point in the future, somebody kick me, please. |
