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Technology Stocks : Apple Inc.
AAPL 259.48+0.5%Jan 30 9:30 AM EST
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To: Geoff who wrote (3479)8/1/1997 10:39:00 PM
From: Fernando Gomez Pimienta   of 213183
 
Bob:

Good for you, I bought originally a first set of Oct 17.5 calls in
May @ 2.375, when AAPL started sliding I bought another set @ 1.80
and when the common was around 13 I bought a third set @ 0.50.

With the famous 15% Friday spike and a little bit later I took a 100% profit on most of my calls but still have some.

Wish I had waited more, but I have the rule that if I see an 80-100%
profit I take it. I seldom have the patience to wait for more but
it's a good rule and although I seldom make as much as I could make, still I think I narrow the losing possibilites playing it this way.

Nevertheless my opinion is that if you play options given the risks
involved you have to look for 80-120% returns minimum.

I don't know what the Oct 17.5 calls are worth now since I just
opened up here but my guess is at least 3.5, I still will have a nice
return, but boy, when the stock was below thirteen prior to the earnings announcement I was nervous... fortunately it turned out allright.

Good luck to all,

Fernando
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