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Strategies & Market Trends : Tech Stock Options
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To: Stoctrash who wrote (48909)7/30/1998 2:05:00 PM
From: Lee  Read Replies (1) of 58727
 
Hi Fred,..Re:<<bond yields>>

Thanks for the alert. I did see that note on the Idea thread. We have declined from 123^14 on July 24 to a low today of 121^24. I started to buy calls based on the previous 3 days decline and figuring that an ECI high number is already priced in. Looks like it was now.

SP8u has gone from 1173 to 1127 yesterday which almost qualifies for the 5% decline so looks like an opportunity to go long Sept bond looking for around 5.65% or 123^10.

From 122^20 to 123^10 = ~ 23 ticks or 718.75/contract or half that for options. Looks like a good risk/reward scenario. We only have the 2Q preliminary GDP tomorrow morning to get by. If the number is weak as most think it will be, bonds could rally pretty good from there especially considering the last few days of selling. Will look for an opportunity (entry).

Regards and Thanks,

Lee
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