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Strategies & Market Trends : The ultimate play:STRADDLES on earnings announcements.
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To: Jeng Chiu who wrote (43)7/23/1996 7:00:00 PM
From: farouk a. hassieb   of 140
 
Jeng,

I did well on IOMG but didn't make out like a bandit, which in my opinion, is making 500%+. The tech sector is getting slaughtered once again and this time I was better prepared for it. I still have my puts on the NWX and SOX,(See previous post) and will hold them for a little while longer. Remember that "The trend is your friend", and the trend is currently DOWN. I am expecting IOMG to bounce off of support of 16 and come back down to retest this level. IOMG holders will be getting their margin calls in the mail any day now which will put even more downward pressure on this battered stock. I think the down side is few more points but I could be wrong. I still think very highly of the company and feel they have a tremendous future, but so do millions of others and look what's happening to the stock!

By all means, buy a USRX straddle, I am looking at a longer term play tommorow. I see the downside at 50 and the upside at 75, so there is definite profit potential here. I'll try and post tommorrow if I can about what I did but I am pretty certain I will buy a straddle tommorrow, probably with strikes of 60 for the puts and 65 for the calls. I am leaning towards AUG but may look longer term.

I think you're right about CPQ, what is your strategy? Talk to you later.

Regards
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