Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 205.50

-1.5%

Dec 5 9:30 AM EST

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To: Jan Crawley who wrote (37785)	3/5/1998 3:35:00 PM
From: Inga	Read Replies (1) of 61433

Jan, How are you doing so far? I decided to get rid of all my ASND shares today at 33 1/2. I keep only a minor portion in my IRA account (700 shares). I converted the stock into an unbalanced straddle at 35 with 30% April puts and 70% June calls. The way the panic goes, the market becomes emotional and we never know if we see 30-31 again. We saw 32s already. I think the straddle works better in this situation rather than going long or short. I will update the straddle position along the price movement, so I don't care whether the price goes up or down anymore. I'll make some money as long as the stock move 3-5 points each 15 days or so. Just a thought.

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