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Non-Tech : E.Schwab problems
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To: OX who wrote (858)7/20/2000 4:09:41 PM
From: Mark Z  Read Replies (1) of 1401
 
Yup, I remember the fire alright. That was during my short tenure. It was all my fault, I jinxed them.

I just got off an interesting spread; somewhat risky but I don't think so. I'm long INSP July 45s @ 5.25 and short July 50s at 1 7/8. Stock closed at 50. Debit is 3 3/8 with potential gain 40+% for 1 day. Here's the deal, if the stock goes down tomorrow and I end up with the stock, earnings are next week and I expect at some point I can unload the stock at 50 or better. If the stock can hold 49 tomorrow, I expect enough premium to strip off the 50's overnight that I might even be able to unwind tomorrow for a decent return.
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