Mr. Pink's Picks: selected event-driven value investments Message Board

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Strategies & Market Trends : Mr. Pink's Picks: selected event-driven value investments

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To: Muhney who wrote (3491)	10/4/1998 5:30:00 AM
From: Mr. Pink	Read Replies (1) of 18998

Don't worry about it. Many of Mr. Pink's friend started out as foes...You are right about the Put sale, He meant to say Call sale Jan 20s at 3 3/8. The logic for the aggressive strangle trade to buy November Puts to give enough time for FP to blow up....In hind site, October would have been sufficient, He thot the company would implode in a couple of weeks. He sold January Call premium because the time value of the Calls was essentially worthless because if a deal didn't happen by November, the company was dead anyway so why not take in an extra buck by selling January? He also considered selling the Oct Jan Calendar spread for the same reason but figured the big money to be made here was in buying put premium and not getting too cute with fancy strategies... The main reason for stepping up in the options was that the borrow was unavailable and thus derivitive transactions were in order. Glad to have you aboard....Please join the others in line for the kool aid...the space ship leaves in 7 days. Try these Nike's on, everybody wears those too. Mr. Pink

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