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Technology Stocks : DELL Bear Thread

DELL 119.41

-2.7%

3:59 PM EST

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To: put2rich who wrote (1307)	7/24/1998 4:54:00 PM
From: tsyl	Read Replies (1) of 2578

thanh dao, I have 100 contracts of the Dell Sept 120 calls at $10. At the time I purchased these options Dell was at $115. My calls are now worth roughly half of the $100K original price. Feel my pain. This was to be, and may still be one way or the other, my last BIG option trade. Following my much hoped for Dell profit taking, my strategy was to become simply writing covered call and easily generating $20 - 40,000 per month with my money. I will never understand why people with hundreds of thousands of dollars go long stocks and/or continue to work. If the market reverses it current direction, and if many other if come to pass with my current position in Dell, I will retire from my job of 20 years and live off my monthly covered call income. Maybe its a dream or a fantasy. All Dell needs to do is to go to $127. Seems a long way off right now.Also cant understand why people would buy Dell today. It aint over, but I wish it were.

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