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Technology Stocks : Compaq
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To: rupert1 who wrote (53660)3/17/1999 8:38:00 AM
From: Mike Gordon  Read Replies (1) of 97611
 
Victor: CPQDG (April 35 Calls) closed at 1 1/8 yesterday. A conservative play would be to sell these calls for a gain of:

1.125 + the difference of yesterday's price of 32.375 and 35 or 2.625.
A total return of 3.75 (11.5%)assuming CPQ closes at 35+ on April 15.

If CPQ remains below 35, you keep the 1.125 for a 3.4% return

Risk: CPQ moves considerably above 35 between now and April 15, you must sell at 35.

BTW, J. Cramer, on CNBC, just assured us that CPQ would not preannounce. He also said that he covered his short position.
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