Zeev's Turnips - No Politics Message Board

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Strategies & Market Trends : Zeev's Turnips - No Politics

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To: jjstingray who wrote (52241)	4/17/2002 1:48:12 PM
From: mishedlo	Read Replies (2) of 99280

Doing a BRCM strangle of sorts. April 40 calls for $1 or so. May 35 Puts for $1.80 or so. More Puts than calls in 3-1 ratio. I think BRCM results will be weak but if it explodes up $5 or something on great news, the calls will cover my ass. MOT supposedly said that business was OK except for cable modems and chipsets which is BRCM business. We will see and I am hedged. Not sure if I posted this or not earlier. Current price of calls is .75 or so. If BRCM runs into close and gaps up a few poinst on strong results those calls will same my ass. More than likely they expire worthless. Max pain (but on thin options is 35). BRCM is extended and telecom has been weak. Lots of things to like about this trade I think. We will see. M

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