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Technology Stocks : Network Appliance

NTAP 115.66

-2.9%

3:59 PM EST

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To: briank who wrote (4777)	10/22/2000 11:34:00 AM
From: Uncle Frank	Read Replies (1) of 10934

>> Maybe I should sell calls on my margined shares. Risky business; covered calls are a pretty minor hedge, and ntap has proven to be unpredictable in the short term. >> I SEE they are paying $16.25 for DEC 160 calls. That's the ask; you'd get the bid, which is $15 1/4. You'd get a much better return selling a one month expiry call twice than selling a two month call. As illustration NOV 160s are currently bid at 9 7/8. As well, your stock wouldn't be tied up as long. I agree with Ken that you'd stand a good chance of being called out, but if so, the total revenue would be 169 7/8, which would be a return of 14.3% for one month based on Friday's closing price. uf

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