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Technology Stocks : Dell Technologies Inc.
DELL 125.97-1.0%Nov 25 3:59 PM EST
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To: hdl who wrote (161316)10/1/2000 9:47:45 AM
From: Sig  Read Replies (1) of 176387
 
HDL: Re covering shorts
You may not be the only one covering, it may be time for Dell to cover also
From the Form 10K Annual report, pages 10, 23 and 40
Dell sold 79 mm (1 sh each) puts for $59 mm, exercisible only on certain dates, thru Sept 2001,at strike prices of $25 to $47 ,avg $39
And another 44 mm at price of $11.
These are not reportable to the SEC, and there is not enough data to make sense the total sold, of what it all means or whether it will affect income to Dell.
If Dell stays at 30 they will have to spend
$711 mm to cover, but will have 69mm more shares in the
treasury at a cost of ~$38 to issue as employee options.
Summary:
The CFO at Dell will be busy until they get the engine back on track
Sig
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