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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (24347)	6/18/1999 12:17:00 PM
From: t2	Read Replies (1) \| Respond to of 74651

Jill, I actually did not do that play i had been planning. It would have returned about 600% with a MSFT stock price of about 83 1/4. On that day (Tuesday), I was at the bid but i needed MSFT to drop another 1/4 point or so before my order would have gotten filled. Instead I bought a lot of trading shares at 77. I had up until yesterday resigned myself to having missed my big opportunity and accepted the gains on the shares as a consolation. However, the gambler in me came out yesterday and picked up 100 Jun 80 calls at 1 1/4 and unloaded them at 3----or over 200% return. I have become a "little" risk averse since January and am unwilling to place larger bets. I expect to still see huge gains for the balance of the month in MSFT shares and my July calls. I have not been able to execute a options trade today as MSFT has not declined much. I want to see a dip before i pick up June 80 calls--so far it has not happened. I might actually try the June 85s if I sense the stock will shoot up at the end of the day. Right now they are about 1/16 to 3/16. I might just spend no more than $1,000 for this lottery type of gamble( 160 contracts at 1/16). At this point it appears unlikely but sometimes you have to you wait and wait until late in the day to get a gut feel for the close. If the stock does not drop, i will probably pass on it. The 80s are much more appealing than the 85s simply because MSFT has already moved up lately. Not sure of my move, if any, at this point.