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Strategies & Market Trends : The Millennium Crash

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To: Cage Rattler who wrote (1851)	12/24/1997 7:42:00 AM
From: Arik T.G.	Read Replies (3) of 5676

Ted, Re: MSFT Upside is small. Possible correction (with new year rally) to 126-7. Remote poss of reaching 133-4 again. Therefore writing 130 Jan call looks low risk. (closing if stock over 135). Downside is abyss like. Gap at 100 for starters. NO supports. My guess is that March 120 puts will be worth $20 before they expire. Rate of decline should not be steep, co will buy back on the way down. Also earnings are not supposed to create ORCL effect. Be carefull with the OOM puts and pick entry point as late as you can, to decrease time erosion. ITM puts - only if you have the stomach to endure the roller coaster. Take your pick. Will post more when I have a clue re correction up. Am holding a sizeable amount of Jan 120 puts. That was a bad pick. Bot around $2. Yesterday close worth 2 3/4. Would have done much better with Jan 130s. ATG

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