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Technology Stocks : INTEL TRADER

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To: smolejv@gmx.net who wrote (1712)	1/9/1998 4:50:00 PM
From: MonsieurGonzo	Read Replies (1) of 11051

DJ; RE:" Global Market Index Arbitrage " >>playing this arbitrage or "divergence"... >...What's the time scale you have in mind? 24h? week? Hmmmmm... I had not thought about that, Janko. What I've been doing is picking a DAX "ADR" stock (like DAI) around $3~$4 out-of-the-money from some option boundary and then closing the position when it is about $1 in-the-money. As the trade is based upon one market leading another, they have taken anywhere from 1-4 days to go in-the-money. Thanks for the tip on using ALLIANZ as DAX bellwether like GE for DOW. I don't remember your DAX PUTs - I remember you making a joke about giving my wife DAX PUTs for Christmas ;-) and I remember you sending me a DAX chart with the index going up, up, and away. What was your "in" and where are they now, and are you going to close them on Monday morning ? I had picked OEX 442 as the target for this drop, and it bounced there so I bought FEB 450 CALLs. Then the rally failed to bust OEX 445 and another big selling wave kicked in. I averaged down when it appeared to stabilize at OEX 437, 15-minutes before the bell - so now have FEB OEX 450 CALLs @ 12. -Steve

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