Office Product Stocks - ODP/SPLS/OMX/VKNG/CEXP/OFIS/BOP Message Board

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Non-Tech : Office Product Stocks - ODP/SPLS/OMX/VKNG/CEXP/OFIS/BOP

SPLS 10.25

0.0%

Sep 28 5:00 PM EST

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To: jim clabaugh who wrote (115)	7/2/1997 7:09:00 PM
From: Joe Waynick	of 297

Jim, I was happy to see the option premimums nosedive. It allowed me to cover my position at 3c on the dollar! Don't forget your fundamentals! That hasn't changed for ODP. Second quarter results will either confirm or deny the state of the company. It's too soon to "DIPITY DO" right now. Premimums will go back up as the price of the stock climbs to $20+ where it belongs. It's not the premimums you should be watching. It's the earnings. Also, remember we're in a panic situation right now. Alot of gamblers, (my call buyers), lost their shirt when ODP closed above $19 then opened the next day at $14.50. BAM! PUT buyers are exercising and panic striken equity holders who didn't sell calls are dumping! STAY CALM, cover your position and wait for the eventual uptick. Then slam the call buyers with another big, fat premimum! Open interest is strong at $12.50. Probably the PUTS. Unless earnings take a slide, ODP will recover over the next two or three months. I shop ODP all the time. Have been for years. I always liked their service, prices, and selection. I was just there today. Nothing's changed. Happy hunting, ugh...INVESTING! :o)

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