3Com Corporation (COMS) Message Board

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Technology Stocks : 3Com Corporation (COMS)

COMS 0.00160

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Nov 26 9:30 AM EST

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To: matt fahy who wrote (19339)	7/17/1998 6:09:00 PM
From: Steve Porter	Read Replies (2) of 45548

Mdfahy: Well the fact that the MMs wanted to stop the run seems to indicate to me that they sold naked calls. (or uncovered). If they had bought the calls they would have forced the price up over $30.00. It is quite possible that the bought $27.50 calls and sold maked $30.00 calls.. that would explaint the right trading range of the last week. If they had sold covered calls I don't think they would have pegged the price at $30.00 since MMs won't write calls that they can lose money on.. i.e. they'll only write covered calls with a strike price higher than what they paid. Steve

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