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Technology Stocks : America On-Line: will it survive ...?
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To: chenys who wrote (3116)5/15/1997 1:59:00 AM
From: James F. Hopkins   of 13594
 
Hi Chen: I'v been messing with a few others, in as much as playing
AOL takes up so much time, I decided to do like them people at
bingo games were they play 6 or so cards. Now I been just putting
in to much time with this stuff..when I add it up I could make more
offshore..and just may be about ready to ship out..but I got several
positions I still got to close..and they are not ready yet.
I have been giving some thought to longer term options.."leaps"
and think they would not tie up my time so much. also an angle I'm looking at is like a spread..you start with two positions.., you sell the one that goes up and use half the money to buy more of the cheap one, then when that goes up you dump it, take 2/3 and buy the other
end..if you continue to just use 2/3 the money to buy the other end your doing ok, but with aol there is a hitch, I just have to keep
some long term put bets , as sooner or later she is going to
take a big dive..yet thoes puts don't need to be so close to the
money..so they are cheaper to hold. I'v been in Jan 98 25s for a
while..been looking at jan99 too. The "time premium " gets less..
"per month" in the longer term puts..they don't track,
( change price as much) as the shorter term ones..but they are
there for the big fall. She will likley hold close to were she
is now tomorrow..then I look for her to ease down to the 45 or
44 level this time..next run up could take her to 55..at that
point I roll into some 99 puts at about 30 or so.
I closed my May 45, and 47.5 late today..watch her dive tomorrow..
<G>
Jim
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