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Technology Stocks : Stock Swap
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To: Big Brother who wrote (13645)5/5/1998 5:38:00 PM
From: Andrew Vance  Read Replies (1) of 17305
 
*AV*-Exactly the way you did. I would not have budged. We have a nice downward momentum which I think will continue into the rest of the week. Too bad it didn't drop further but it is definitely going in the right direction.

I would like to say that at a $2 profit (20% gain), I would have sold out and then got back in when the stock recovered during the day but I won't because it wouldn't be accurate. when the reversal occurred, I took the opportunity to average down the May40 PUTs I previously bought. So the GREED MONSTER got the best of me. However, I can unload all PUTs at a collective gain tomorrow. Therefore, I sit and wait for further downward motion and higher profits.

I will sell the last 25 contracts at $40, the next 25 contracts at $35, and the final 25 contracts at $30 should these targets be reached. I am not sure what the $40 target price would be but the $30 and $35 targets will definitely be profitable. Hopefully, a dip to $40 tomorrow or this week will yield a $7 bid.

Andrew
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