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Technology Stocks : Winstar Comm. (WCII)
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To: gabor boda who wrote (8211)9/10/1998 5:04:00 PM
From: Steven Bowen  Read Replies (1) of 12468
 
Looks like someone put on a large bullish option position this morning.

Appears someone sold 770 contracts of the Jan 17 1/2 puts for $142,000 and with the money bought 500 contracts of the Jan 25 calls for $142,000 (kind of the opposite trade that Jason tried to put on last Spring).

Net net, it looks like this person will lose $77,000 for every $1 that WinStar is below 17 1/2, will break even between 17 1/2 and 25, and make $50,000 for every $1 WinStar is above 25.
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