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Technology Stocks : Compaq
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To: van wang who wrote (22598)3/19/1998 4:44:00 PM
From: Chris McConnel  Read Replies (1) of 97611
 
AG Edwards, huhn.

Bought some July 22.5 Puts Tuesday to hedge my LEAP Calls, day after reading Salomon bearish report on 2nd quarter. Just not sure where this puppy is going short term, wanted to be on the safe side. Feel CPQ is great company to own, it's just a matter of establishing a time frame and factoring in DEC's assets.

Now, need to decide where to sell those puts. If it goes to 20, then the gain on the puts would cover the cost on all the calls, so that will probably be my magic point.

Good luck on you short position.

- Chris
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