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Technology Stocks : SOFTKEY=MERGER MANIA
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To: Anne Stehley who wrote (841)3/10/1997 6:52:00 PM
From: john bass   of 966
 
I purchased at$22 and sold at17. Bought 600 shares at 10.50 and purchsed 30 contracts July 15 calls and 10 march 12.5 calls. So far I loosing my shirt. However this stock is too cheap at 4.5 times earnings.If you beleive as I do that this thing will turn around soon ,then buy calls otherwise buy puts or do a cover. The problem is I dont see much room for the downside and way moore opportunity for upside.If April24 results are good this thing could move up very fast. You want to be in a position to ride it. A cover will cut you short.
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