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Technology Stocks : Compaq
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To: Night Writer who wrote (35941)11/6/1998 12:09:00 PM
From: Bipin Prasad  Read Replies (2) of 97611
 
Good news is that option expires about 4-5 days earlier in Jan
for Jan 1 falls on Friday. So we might still have bullish week
by Jan 16(Sat). Bad news is Jan rally might be over by then.
Unless you want more shares to be signed, better cover 27.5p
when they are dirt cheap because 4qr is the strongest one. I
always cover every other strike prices. ei, cpq is 31 9/16 as
of now, I won't cover Jan 30p and Jan 25, but I'll cover
Jan 27.5p in case stock tanks when tide turns. That way you
won't get panic with too many naked puts out there.

I like your Jan 35p. Remember to buy back during Dec or Jan Rally
(2nd week of Jan next yr, imo) unless you want shares which I doubt
you do.

ps: Is that 20 contracts or 2000 contacts? If it's 2000 contracts,
you need a little bit different method. You need more protection.

InSook
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