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Strategies & Market Trends : The Options Box

QQQ 617.05

+1.3%

Dec 19 4:00 PM EST

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To: Poet who started this subject	2/5/2001 9:22:55 PM
From: ajtj99	Read Replies (2) of 10876

Bought some QQQ Feb. 61 puts today hoping I'd get a couple of points off it heading into CSCO's earnings report. I did get a little bounce early in the AM, but not enough to unload them. I've got a choice right now - hold them naked through Wed, sell them tomorrow, or buy some QQQ Feb. 62 or 63 calls to hedge my position if I get a slight drop tomorrow AM. I did not intend to hold them too long, only to trade. I bought these puts based on the possibility that CSCO will lower future revenue projections even more than recent guidance Chambers has offered. With the 4th Qtr PC report out tonight, it seems the market believes everything is beautiful again. I'm still counting on CSCO to move the market. Any opinions out there? Thanks.

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