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Technology Stocks : Davox
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To: x70sxn who wrote (415)2/16/1999 2:11:00 PM
From: Scott Farnsworth   of 439
 
Not a lot of action on this thread. Here's how I'm recovering from a serious bruising on DAVX:

Increase Long Position, Sell Covered Calls

Buy DAVX, current ask = 8.6875
Sell Sep 7.5 c's, current bid = 3.125

Risk? DAVX < 5 9/16

If DAVX >= 7.5 in Sep., gain =
3.125 + (7.5 - 8.6875) = 1.9375/sh
1.9375/8.6875 = 22.3%

(I haven't accounted for commissions)
Any thoughts? Seems like a reasonable trade, all things considered.
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