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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: phillip who wrote (10918)	5/28/1999 5:25:00 PM
From: Herm	Read Replies (1) of 14162

Hi Phillip, PPE Hummmm? PPE was formed as a 1-for-1 Spin-off by Hilton Hotels Corp. (NYSE:HLT) Dec. 31, 1998 prior to acquisition of the Mississippi operations of Grand Casinos Inc. (NYSE:GND). Growth rate is pegged at +16%. But, there is no telling what the revenue will be like with the Mississippi party boats. NYSE: (PPE : $10 1/2) $2,738 million Market Cap at May 28, 1999 Trades at a 37% Premium PE Multiple of 21.0 X, vs. the 15.3 X average multiple at which the Gambling SubIndustry is priced. Wow! PPE 10Jun 10,946 calls open interest - PPE 10Jun 10,533 puts open interest. Sure, does look like a serious straddle. Somebody is expecting a serious move in one direction. iqc.com It seems likely that a PPE short gap upward past $12 is possible. Stocastics just turned positive, low RSI and starting to curve upward, solid lower BB tag, and OBV climbing steady. Lower price support is at the $9.00 level. Very interesting stock Phillip!

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