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Technology Stocks : Qualcomm Incorporated (QCOM) -- Ignore unavailable to you. Want to Upgrade?

To: Jim Willie CB who wrote (32394)	6/15/1999 11:48:00 PM
From: Morgan Drake	Read Replies (3) \| Respond to of 152472

When guys have sold options which are now deep in the money, they either redeem the options (with cash) or they let the stock go. I would never go back into the market and buy stock to cover a previously covered call sale. Before I could buy back the options and then sell new calls at the higher price, I would first have to come up with the cash to buy back the previously sold options before I would be permitted to sell new calls on my existing stock holdings. Or so I think. Thus, option expiration should not create additional demand/supply for the stock. It may, however, lead to stock price manipulation by those long/short options at a particular strike for June. Morgan