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To: hpeace who wrote (4433)	12/9/1997 1:03:00 AM
From: space cadet	Read Replies (1) of 4749

hi steve, I'm still trying to position myself to buy some cpq options. From Briefing: "PC makers started the week off on a positive note on comments from Compaq that it sees demand for computers remaining robust in CY98... However, after the close a research group out of San Francisco noted that PC makers won't make money on sub-$1000 PCs as increased demand won't offset lower prices... Could lead to some profit-taking in Compaq, Gateway, etc... " Do you agree with this? Also, I had a great spread in coms but while I was up a ton at one time, when coms recently collapsed so did my Jan option spread. What would you have done in my position. Do you usually hold spreads till expiration time (i.e. for example till april on cpq. Now I'm thinking it's perhaps less risky to buy the april call and sell a short term option that expires each month on cpq. That way you can easily get out if/when the stock explodes one month, as coms did several months back. What do you think of this strategy versus just a straight spread? Why do you think dell has done so much better than cpq lately?

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