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Technology Stocks : Stock Swap
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To: Patrick Slevin who wrote (14006)5/21/1998 12:33:00 PM
From: Andrew Vance  Read Replies (2) of 17305
 
*AV*--Only if you mean the weapons funds the Irish Republican Army might not be using in the near future.<GGG>

My age will be identical to both a gun and a record now.

Andrew

BTW-Stupidity time!!! I hold a rather larger position in DY as many of you are aware. I have been holding onto it, watching it trade in the 25-29 range, more specifically the 26-28 range for the awhile. I have an August exit strategy for some of the shares to coincide with some perceived future opportunities. Yesterday I decided to try to make a few $$$ as this fluctuates in this tight range. I sold 25 covered DEC30 CALLs for $2.50 for what I thought to be a good play. Take out price is now $32.50, which would be a new historical high for this company. No sooner do I do this, than the stock starts moving. The stock was at $27 when I sold the Calls yesterday and the stock went up later that day along with more than $1 today. Timing, what a wonderful concept. DY is at $29.50, up a total of $2.50 and only $0.50 from the CALL target. The B/A is now 3.125 by 3.50 so literally one day amounts to close to another $1500 for the pocket. I still can write 4X as many CALLs but as you can see, there is almost no volume or open interest for this stock. I am the majority of the open interest on this stock on the DEC30s.
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