Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE! Message Board

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Technology Stocks : Data Race (NASDAQ: RACE) NEWS! 2 voice/data/fax: ONE LINE!

RACE 336.33

+0.9%

3:59 PM EST

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To: Marshall who wrote (28213)	3/2/1998 1:21:00 PM
From: drakes353	Read Replies (1) of 33268

Marshall: Like I said, I'll try to get a more definitive explanation of this in real terminology as opposed to my lame attempts. To me it looks like: OK, we've got 1M shares coming for our $5M if it stays at $5 If we sell 500K over time between $5 and $3 we get $2M cash now. We convert 500K at (now) $2.50 and use them to close out the hedge position. The $2M we got out of the hedge was just covered for $1.25M of the total owed us. Looks too easy, doesn't it? Please add your comments, I'll ask so I can produce a better explanation later on. Okay....so what do they do if the stock rallies instead of going down? drakes353

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