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Strategies & Market Trends : Tech Stock Options
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To: Judy who wrote (2805)6/23/1996 1:50:00 PM
From: Snowshoe   of 58727
 
1999 LEAPS

Judy, since you mentioned LEAPS I am passing this on for anyone who wants to follow up on these long-term options:

The CBOE is in the process of listing 1999 LEAPS for several dozen stocks at a time. When this happens, the 1997 LEAPS for those stocks are converted to standard options with standard symbols. The first letter of the 1999 LEAPS symbol is V. Major technology stocks already listed for 1999 LEAPS include INTC, CSCO, and AMAT. A new batch of 1999 LEAPS for 23 stocks (including HWP) will be listed on Monday, June 24. One caveat about the 1999 LEAPS: the second year of a presidential term (1998 in this case) has historically been a relatively poor year for the stock market.

For comparison, here are some Lombard quotes on Intel from Friday's close:

1997 INTC Jan 80 call (INQAP) bid/ask: 4 - 4 1/4
1998 INTC Jan 80 call (WNLAP) bid/ask: 10 - 10 1/2
1999 INTC Jan 80 call (VNLAP) bid/ask: 14 5/8 - 15 3/8

Anybody have a prediction for the price of Intel in January 1999?

-Greg
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