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Strategies & Market Trends : Options
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To: edamo who wrote (7627)5/6/2000 9:29:00 AM
From: tekboy  Read Replies (3) of 8096
 
I disagree with some of the specific comments (I'm pretty sure that what you're remembering is a prediction by UF that QCOM would hit 250 pre-split by the beginning of Y2K, which it in fact did), but your general point about mania buyers is certainly correct.

As one of those people, here's a specific question about repair for you or others: I bought some Jan 02 220 QCOM LEAPS calls back when the common first dipped back to about 160. They're obviously significantly under water at this point, but since I'm still quite bullish on QCOM and since there's so much time left in them I have held on. What would the most sensible thing to do with these be: continue to hold? sell them now and use the proceeds to buy fewer contracts of ATM LEAPS? wait for the 03 series to appear in a few months? Any comments would be appreciated...

tekboy@irrationallyexuberant.com
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