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Technology Stocks : Compaq
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To: SecularBull who wrote (30784)8/11/1998 1:51:00 PM
From: CCWriter  Read Replies (2) of 97611
 
LOD,

I propose Goldman is playing the volatility of the stock. I see CPQ in a long term uptrend with a short term trading range between 36 and 32 1/2. They sold the covered calls when the stock price was near 36 (at a price of say $6 per contract). I'll bet they buy them back when the stock price approaches 32 1/2 (at say ~ $3 per contract). Then they will do it all over again when they feel the stock price has reached another short term peak.

Lots of ways to play the market.
blaine
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