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Technology Stocks : Scientific Atlanta -SFA- going up ???
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To: kili who wrote (158)11/4/1997 1:16:00 PM
From: Donald L. Neely  Read Replies (2) of 1045
 
Kim, not an expert will tell you what I know. Works essentially the same as stock options. Using the S&P index as an example, for calls you are buying the right to buy the basket of shares that make up the OEX (S&P 100) index on or before a certain date at the strike price. Currently a single contract for Feb 840 is selling for about $94 which equals 100 shares so the option will cost you $9400 plus commission. In this example you are betting that the index will go up during the life of the option. I bought one contract yesterday for $92.00 (OEXBH Feb 840) per share or $9200 for the contract and the option got as high as 98 duing the day for a profit of $600 minus commissions (if I had sold). Hopefully this thumbnail will help some.
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