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Technology Stocks : Altaba Inc. (formerly Yahoo)
AABA 19.630.0%Nov 6 4:00 PM EST
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To: TheBigB who wrote (7902)3/6/1998 8:05:00 PM
From: Michael Collings  Read Replies (1) of 27307
 
Big B:

You are right, the blocks today all traded at the offer. Could be we are at the point where the big guys have already dumped their shares and are now building a short position. Remember to short you have to trade on an uptick. Of course it also could be that there are some not too smart institutions buying at this late stage of the game. In either case I didn't notice any blocks larger than 10,000 shares trade today. I'm willing to bet that this will be over within the next two trading sessions. We have already run up almost 20 points in a week. Seems to me that 5 or 10 more is the limit. We gapped up a half a point today and sure looked like some big panic buying going on. The stock had a difficult time retracing.

I'll sell some July 80 or 85 calls sometime in the next two trading sessions. The 80's are close to the money and bidding around $11. Hey if someone wants to pay me $11 to short the stock at 80, I have to give that some serious consideration. Thought about doing it today but I think we still might see some more upside and that premium will go up. Or maybe the 85's or 90's will start trading next week and I'll get paid 10 or 11 bucks to short at the higher price.

Sorry to have answered you so late in the day, but some of us still work for a living.
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