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Technology Stocks : Electro Scientific???
ESIO 29.990.0%Feb 1 4:00 PM EST
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To: Mark Oliver who wrote (690)7/7/2000 12:08:42 PM
From: Jerome  Read Replies (1) of 723
 
I bought all of those calls. Some might consider it a two bit play. But incremental gains spend just as well as real money. All six positions are nicely positive. On ESIO I bought the 40's because there were not any 35's available.

The strategy here is pretty clear. If ESIO gets above 50, then I will exercise the option at 40 and immediately write a covered call about 5 points above the current trading price for August.

This is the beauty of buying in the money calls. It gives you some time to determine if you want to own the stock long term.

Regards, Jerome
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