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Technology Stocks : America On-Line: will it survive ...?

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To: James F. Hopkins who wrote (3965)7/12/1997 3:02:00 AM
From: CLAUDE JOHNSON   of 13594
 
Jim,

Take a look at my Aug 65 Straddle. Got in below $9 total. Already in the profits. Thinking about putting in a sell on the Call side for $10. Plan on using proceeds from Short-term Straddles to move into Jan 98 Puts. Puts are EXTREMELY overpirced now, however (Market is planning a move!). The Jan 65's and 70's aren't worth 60% of what they list for!!! Suggestions? I may just Sell the 1/98 80 Calls and pick up the 1/98 65 Puts with the Proceeds.

Steve ... what do you think of the above aggressively bearish trade ... let's do the trade between us to avoid commissions!!
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