Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: pezz who wrote (27623)	1/22/2003 8:00:52 AM
From: TobagoJack	of 74559

Hello Pezz, More Good News Report: On this trade … Message 18044653 September 27th, 2002 … Purchased a tranche of Cendant (CD) @11/shr, and shorted a bunch of CD January Call Strike 12.5, and a bouquet of CD January Put Strike 10 for a combined premium of about 3/shr. Maybe I will deserve another platinum watch or a few months of sustenance in time for Chinese New Years … … and … Message 18282552 November 27th, 2002 … a) Broker confirmed that I had successfully closed out my short Cendant January Put Strike 10 @ 0.45/shr. The position was opened here @ 1.45/shr ... ... thus netting a well-deserved $1.00/shr for doing not too much of anything, in time for giving thanks:0) With Cendant at USD 11.55/shr, my net net on trade is 28% or 84% annualized:0) Since I still hold the Cendant, I will think about unloading it tonight directly or via long dated and in the money shorted Calls. Chugs, Jay

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