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Strategies & Market Trends : Options
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To: Jill who wrote ()3/19/2000 9:51:00 AM
From: KY  Read Replies (2) of 8096
 
To the thread,

I'm looking to take my first ever option trade (just got the paperwork approved at Waterhouse) and would be appreciative of any comments on the logic that is to follow.

Situation

Strong believer in the long-term fundamentals of QCOM. However, I don't want to put any of my cash (which has been building) to work in QCOM right now. Assumption: May have a bit more base building over the next few months...would rather put my cash elsewhere. I think that maybe two more quarterly earnings report, the street will come around again, and QCOM will once again rise, albeit maybe not as quickly as in '99. I would like to play QCOM in some way...thus, my options play.

Risk Tolerance/Experience

Little...since this would be my first trade. Looking for best scenario for risk/reward. Understanding this, I believe the best way for me to begin this journey is with either a call in late '00 or possibly a 01 or 02 LEAP. THinking that the 02 LEAP is the best way to take advantage of QCOM's fundamentals and minimize risk.

Choice

Buy some Jan 02 contracts...maybe 160s. (Here's where I need some help -- they all look the same to me! What makes the 160's a better option than the 180s?).

Please let me know if the above logic is sound or if a better strategy may exist that matches my love for QCOM fundamentals.

Want to get this first one right.

Thanks in advance.

KY
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