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Technology Stocks : Ascend Communications (ASND)

ASND 209.02

-0.7%

Nov 24 3:59 PM EST

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To: hal jordan who wrote (29213)	1/3/1998 1:02:00 AM
From: Steve Rolfe	Read Replies (1) of 61433

Off Topic - Hi Hal. I would have emailed this question, but yours is not listed. I am new to options and recently bought some AMAT April 25 Calls at 7 1/2. I have been toying with the idea of proteting them with some AMAT Jan. 30 Puts (currently 1 1/8) as you are suggesting (insurance). These look much more attractive than lower strike price puts as I have a possibility of making money on the puts as well as the calls if AMAT drops in the next 2 weeks and then goes up before April. Jan 25 puts would actually serve more as insurance than the Jan 30 puts I am tempted to buy. As I write this I realize the Jan puts only protect me for a couple of weeks and maybe I should look at the Feb puts. As you can see my dilemma is deciding exactly which puts would be most suitable. I am really trying to guard against another series of bad news from ASIA. What are your thoughts on this? Thanks. Steve

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