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Technology Stocks : Stock Swap
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To: Big Brother who wrote (13658)5/6/1998 10:50:00 AM
From: Andrew Vance  Read Replies (1) of 17305
 
*AV*--I forgot to tell you that the first group of 25 PUTs are being disposed of between 6.5 and 7.0 as I stated I would yesterday. I thought you might want to know that. These were a response to the upward movement of the stock yesterday and were used as an average down. Almost a double but good enough and now we are down to the 50 original contracts I set out to own. however, these 50 contracts have a lower cost basis<GGG>.

Judy-I should have sold naked CALLs to pay for the PUTs I bought since I was strapped for cash<GGGG><NOT!!!> I will remember that for the next voyage down the road with a similar situation.

BTW-Tech Master-you are now correct about the 10 points I left on the table. Even without riding a roller coaster, I could have held the original shorted position for these 2 extra days and netted another combined $200K. Now THAT smarts!!! I will never listen to that conservative little *@$@%!^ voice again since the GREED MONSTER voice was correct.<GGG>

Then again, if I were holing the shorts I wouldn't have bought the PUTs. So why didn't I buy 200 PUTs and Sell 200 CALLs. Oh Woe is me.

Okay, so I am pulling your leg a bit<GGG>. I am very pleased with the way everything went and is going. As you said, I never get the top or bottom but take a big chunk out of the middle. I really am content with that and hope that others here are feasting on the stuff I left on the table.

Andrew
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