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Technology Stocks : Seagate Technology

STX 285.27

+0.9%

Dec 24 4:00 PM EST

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To: MarkM who wrote (5160)	7/2/1998 6:10:00 PM
From: Andreas	Read Replies (1) of 7841

To Mark; I don't know when earnings are reported. Wish I knew. Here's a short term strategy that is reasonably failsafe assuming earnings are reported after options expiration on July 17. Buy seg at 22 13/16 (today's closing price). Sell July call with a $22.50/shr. strike price and receive a premium of $1 9/16 (today's closing price for this option). Make $1,500 less commissions in two week period on 1000 shares. If earnings are within expectations stock may go up and stock called away on July 18, 1998. Big deal - you made $1500 in two weeks. If earnings are less than expectations then stock goes down (but realistically what is downside potential at this time - imo very little) and you still keep $1500 and then sell August option for similar amount.

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