Compaq Message Board - Msg: 9359027

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Technology Stocks : Compaq

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To: Loki who wrote (60632)	5/6/1999 11:57:00 AM
From: Elwood P. Dowd	Read Replies (2) of 97611

From the Yahoo Zoo...... Mama Mia! 3000 call contract block by: Shorti_Long (F/Santa Cruz CA) 74700 of 74700 Just noticed that the June 25 calls are the #1 most active today. AT 11:18, a 3000 call block was bought . Then, at 11:19, an additional 500 call block was also bought. This represents a 350,000 share bet that Compaq will be at least 26 1/2 by June 18. ( The reason i say 26 1/2, is because the buyers paid an average of 1 1/2 for the contracts, so this must be added to the $25 striking price for them to break even) Just for the record, i am long the June 22 1/2 calls and short the October 22 1/2 puts. This combination in Options Jargon is called a "Synthetic Long" . Good Luck to all S Long

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