Cents and Sensibility - Kimberly and Friends' Consortium Message Board

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Strategies & Market Trends : Cents and Sensibility - Kimberly and Friends' Consortium

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To: stan s. who wrote (94352)	4/7/2000 2:52:00 PM
From: Bryan	Read Replies (1) of 108040

Hi Stan, I have CS May 27 1/2 and May 42 1/2 Calls. I've averaged down to $23 (underlying) in both contracts. I know the $42 1/2 is a looooong shot, but the $27 1/2 are enough in the money to pay for the long shot contract. I would only trim back if CS tested $34 and held. Otherwise, I still have some time in the options. I don't own the stock, so I will likely be holding everything through the weekend. I think it will resume this short-term reversal next week. I don't see that anything fundamentally has changed at Cabletron to merit a 50%+ battering in such a short period. I think in the $20's CS is an absolute steal. There is no doubt in my mind that institutional investors are adding CS at these levels. I hope to be able to exercise some of the 27 1/2's and just outright sell the 42 1/2's. My target is $34 for some profit-taking, and the time frame, obviously coincides with the May expiration. However, I'd love to just see CS move straight up from here....the quicker the better for my options. We'll see though. Best with yours. B

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