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Pastimes : The New Qualcomm - write what you like thread. -- Ignore unavailable to you. Want to Upgrade?

To: RoseCampion who wrote (239)	9/20/1999 3:18:00 PM
From: marginmike	Respond to of 12254

Here is the part you are interested in "Although what action there was in the early afternoon seemed centered on the usual tech favorites, Jamieson said his crew has been carefully watching wireless wonder Qualcomm (QCOM:Nasdaq), which has been on a tear lately. "I know a lot of people are going long the calls and short the puts on this stock, and it's been a wild ride lately," said Jamieson, adding that the stock has the ability to move up or down as much as 8 points a day. "This stock has become a daytrading thing, and I think many of them are getting into the options on it, too." Traders often play the tremendous volatility on stocks such as Qualcomm, hoping to get a big move that will quickly turn cheap options to valuable ones, in either puts or calls. Qualcomm, which hit a new high last week, was down 3 today to 186 15/16. The action on the options was subdued, at least for today, but what activity there was focused on out-of-the-money October 200 calls. Amazingly, the calls still carried a hefty 7 1/2 price tag, or $750 per contract, despite the falling stock that left them about $13 out of the money."