Play It On Paper- Clappy's Newbie Option Thread Message Board

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Pastimes : Play It On Paper- Clappy's Newbie Option Thread

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To: Clappy who wrote (150)	8/28/2000 2:49:10 AM
From: David Cecil	Read Replies (1) of 176

Review of previous picks and list of new picks. Hi Clappy, Did not do much after I bought EXDS JAN 2003 Call 65 VTQAM for 18 1/2. Still holding it. Currently it is above 30. I think EXDS may run further. It has taken out the resistance at 60. The next level it has to take out is 65 according to schaeffersresearch.com. EXDS closed Friday at 65 3/16. Glad I sold the SUNW puts. What a run. It may trade sideways a bit. Sold a covered call for CMGI AUG 40, two weeks before expiry and pocketed the premium. That was my first covered call. Planning to do the same if CMGI runs up closer to 50. Bought it at 34 5/8. Seems like the bottom for CMGI if the market holds up. To review my last set of picks: Message 14129224 All the picks except NOK are higher from the day of my pick. The top three picks were CREE and SEBL and EXDS. I am really happy, even though I did not make use of all the picks. At this point if I had bought those options, I would have sold most of them. AOL is worth watching. It is currently in the upper end of its trading range. So most of them are expecting it to trade back to the lower 50's. I think (read it as hope) AOL might surprise everybody. It is getting closer to the merger date. I have a few options which I had originally bought when AOL was higher. My new pick is CMTN. I bought MAR 2001 Call 70 for 12.5 on Friday. When CMTN released their earnings on July 17th, it was trading around 124. It closed at 58 11/16 on Friday. It looks really oversold. They missed the whisper numbers. Nevertheless, I think it can easily trade up to 100 before year end. If it goes lower, I will average down. I am carrying forward YHOO and NOK again from my last set of picks. NOK has been beaten down. If you are patient, NOK will reward. NOK is a safer play. Consider a leap for NOK. I think YHOO will start moving now. It has formed a good base. QCOM looks like it wants to go lower. I would not buy a put based on that, but will keep watching to see if it puts another bottom. If it goes closer to 50, I'll consider buying a leap. Optionadvisor.com is suggesting a QCOM put. ...David

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