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Technology Stocks : All About Sun Microsystems
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To: Pierre Aydin who wrote (6808)1/15/1998 3:57:00 PM
From: Alok Sinha  Read Replies (2) of 64865
 
Pierre,

I got some Feb 40 puts also today for 1 1/8. Based on today's volume of Feb 45 calls (3000) and 40 puts (300), seems like a lot of people are specualting that earnings will be good. The puts however afford me some peace of mind. Unless the earnings are significantly above 54 cents, I doubt if the stock will make a strong move into the high 40s (like it did following last July) - I hope I am proven wrong as I have a very large SUN holding.

More likely, earnings will be in line or slightly better - stock will gap open to 45 tomorrow and trade in the 42 - 46 range for sometime (if the overall market stabilizes). If we are below estimates we will see the high 30s tomorrow like last quarter (Wiseowl will be happy - even though I have puts I am rooting for good earnings).

The volatility in the market is enough to allow Feb put holders to get out at a decent price. Trading options in the past I have always taken some losses on long positions (calls and puts). Ironically, all my option trades (20+ trades) since last Dec I have consistently been able to make money . I don't think I have gotten any smarter trading options. Just seems like the market moves have been so extreme that long option positions have rewarded the risk takers (unless off course if you held options on stocks such as SYBS, Adaptec, Oracle, etc)


Regards

Alok
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