CYPRESS Semiconductor (CY) Message Board

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Technology Stocks : CYPRESS Semiconductor (CY)

CY 23.82

0.0%

Apr 16 5:00 PM EST

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To: ROBERT MONTGOMERY who wrote (1990)	9/2/1998 1:53:00 PM
From: RDH	Read Replies (1) of 2694

The link for this buyback is biz.yahoo.com This is pretty impressive -- originally CY had planned to by back 4 million, not they are planning on buying 14 million. The fact is that sometimes this is done via a combination of buying stock and selling PUTS. For example, CNSO has been selling PUTS and sometimes they get assigned, sometimes they don't put get a nice premium to keep which is reported as income and ultimately raises the book value of the stock. This is very good news for shareholders. Expect CY to not only be buying back stock but selling 7 1/2 puts over the next few months. In addition, since CY is in the $5 to $8 range it is very vulnerable to short selling pile on, which often occurs in this range. Currently, the short interest is not great, but still, the news of Company buy back will cause the more prudent short sellers to cover. Thanks, CYPRESS, we shareholders appreciate this. - RDH.

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