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Technology Stocks : Rambus (RMBS) - Eagle or Penguin -- Ignore unavailable to you. Want to Upgrade?

To: Dave B who wrote (24877)	7/15/1999 8:20:00 PM
From: Barry Grossman	Read Replies (2) \| Respond to of 93625

All Rambus options except Jan 2000 120's are now trading in the money: tscn.com Barry

To: Dave B who wrote (24877)	7/15/1999 9:56:00 PM
From: Jdaasoc	Respond to of 93625

Yea, it was wild. I spent 2 pts in the process of opening and closing 20 JUL 110 covered calls. Tempted to try again tomorrow morning @ JUL 115 if price is right. Also today, I took in a lot of money on FEB 01 100 and JAN 01 100 PUTs that I wrote. Do you think I will refuse RMBS stock in next 18 months if my effective cost is 78 or 65, a no brainer. I've made 17 out of 35 pts on JAN00 90 PUT I wrote many months ago when things were more ropey. My investment strategy based on my RMBS experience is take stock of fundamentally sound companies if they don't want it via PUT writing. I was handed a partial lot of RMBS stock that was over 60 pts in the money in MAR (AUG 120 PUT when we were in 60's during Intel non-committance and FUD). The funny thing is the 7 AUG 120 PUT contracts outstanding will most likely expire worthless with a 55 pt profit. Recently I was handed some MSDW stock via PUT when it was only 2-3 pts in the money. You can easily tell how the investment community feels about a stock when with RMBS it was a 60 pt mistake on my part and they barely gave me any stock vs MSDW only 3 pts in the money and they stuck it to me ASAP fearing a market sell off. I am selling a lot of stocks that are overvalued. Assuming I can get them back cheaper within 90 days. I am building up a little nest of CASH to buy more RMBS on any downturn. My Merrill Lynch broker thinks I am nuts but I think I know what I am doing better that he does.