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Strategies & Market Trends : Tech Stock Options

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To: Jerry Olson who wrote (31093)	12/12/1997 9:55:00 PM
From: HoodBuilder	Read Replies (1) of 58727

Jerry, I've spent the last hour evaluating the AMAT Puts and Calls on the CBOE Site. I think I've set up the ultimate trade and I want your feedback. Call me over the weekend or I'll talk to you Monday AM. Here's a teaser. . . Buy AMAT @ 26.50 (assume Monday's open) Write July 35 for 2.875 Buy Jan 25 Put for $2.00 I figure by Mid Jan the bad news will be on the table and if AMAT's gonna take a hit it will be before Jan Opex. If stock moves below $25 you're fully hedged if it moves north you are stuck with a $9.00 profit ceiling in July if you don't roll up and out. This seems better than the $50,000 I lost on KLIC options. I'm gonna sleep on this one but 4K shares don't seem too bad. BTW, if you want more safety you can roll out the covereds and buy some more Puts all the while keeping your profit ceiling at $9.00+/- Please tell me what is wrong wih this picture. Comments from other Option Experts is welcome.

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