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Technology Stocks : Ultratech Stepper

UTEK 30.23

0.0%

Jun 5 5:00 PM EST

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To: Jerome who wrote (1002)	7/20/1997 10:44:00 PM
From: Jerome	of 3696

I believe these to be the best Option bets for UTEK this week, before earnings are announced. I believe that UTEK will either rise or fall in a similar amount depending the earning outcome. For those of you that trade Options Iam basing my strategy on a book written by Max G Ansbacher, (past President of the CBOE) titled "The New Options Market" Its always necessary to make some basic assumptions about market conditions and the company in which you are buying an Option. In this case I will assume that the semiconductor- equipment market continues to strengthen as the year progresses. Other contributors to this thread such as Andrew and Ian have put up numerous postings to substantiate this trend. My preference for UTEK would be an Option as far out as possible in case UTEK declines on a negative report. In this case the farthest Options are the Feb. l998. .......... UTEK ..................Divided.... Cost ...... ....Closin.........Intrinsic.... Time # of months...... of Strike...... Symbol... ASK Price ........Value Value to expiration ....... Ownership 221/2...... UQTBX... 63/8... 25... 21/2... 37/8.... 7... .552 25 ... ... UQTBE... 51/8... 25... 0 ..... 51/8.... 7... .732 30 ... ... UQTBF... 31/2... 25... 0 ..... 81/2.... 7... 1.24 IMHO the Feb. 221/2 offer the best risk reward ratio. If UTEK falls there is sufficient time for the stock to recover. To hedge this bet further I would buy some offsetting Aug 221/2 puts for 3/4. If some of You know of a better strategy please post it. If its OK with the senior members of this Thread I will post periodically Option strategies for UTEK. Perhaps it is not appropriate, considering the technical orientation of this thread. Sincerely, Jerome

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