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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (37202)	3/24/1998 6:39:00 AM
From: donald sew	Read Replies (1) of 58727

Lisa, I got the WFC 310's for 1.75 approximately when WFC was around 336. No real change in the option price, but keep in mind that I picked a way out of the money strike price so I can sell the 320's hopefully in the $7-9 range, giving me a profit of $5-7 with a risk of $3-5(CREDIT SPREAD). The reason I chose this strategy is that the layout of capital is much less in case it does not work in this abnormally strong market. Right now the futures are up slightly with CRUDE down about 30 cents at this time. So will DIP-BUYING continue and succeed again? Technically it shouldn't but it may. And that is why I went with the credit spread strategy. Seeya

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