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

To: DaveMG who wrote (48384)	11/7/1999 8:37:00 PM
From: Voltaire	Read Replies (1) \| Respond to of 152472

You're probably right about everything in your post and that being the case there is no need for further dialog. But before I go and I must hurry, I find it interesting that the people that detest my posting the most seem to know every detail of their content. Interesting, very interesting. selah, Voltaire

To: DaveMG who wrote (48384)	11/7/1999 9:18:00 PM
From: 100cfm	Read Replies (1) \| Respond to of 152472

dave you state that if Q gapped down 30-40% they wouldn't be protected. true they wouldn't be FULLY protected but at least they would have the premiums they collected to offset the loss. certainly if one is fearing a 30-40% loss, one would use a more extreme approach such as selling half the position and writing calls or buying puts on the other half. i would think voltaire was not expecting such a gap to the dn side or he would have sold 100 calls instead of only 50. you state that you doubt 50k would protect a 3m position as if it were money he spent for insurance. the 50k was his loss. i believe he took in 95k in premiums. again you're right 95k would not be 100% protection on a catastrophic drop, but i don't see on how having 95k less in losses is a bad thing. i know personally that if i took in x in premiums my loss would now be y less x. would i be 100% happy, no, but at least i would have less of a loss. i am certainly not an options expert but i still don't see the bad side. are you against it because you can lose on both ends(whether the stock goes up or dn), if so all i can say that no insurance is free. as far as wondering how many people are still holding calls they've sold. i say anyone still holding calls they've sold shouldn't have bought them in the first place since they didn't understand what they were doing. thus my comment good advice but not for everybody and an additional comment in a later post stating that we are all responsible for what we do with any advice/info we use from this or any thread and should use prudence accordingly. if you could leave out the personal attacks i would be interested in hearing your factual side of this debate. what would have been a better strategy for a $3m position. cfm

To: DaveMG who wrote (48384)	11/7/1999 9:25:00 PM
From: Jill	Read Replies (2) \| Respond to of 152472

FWIW, and I don't speak for anybody other than myself, Voltaire indicated to me (without directly advising) the single best investment strategy--the exact strategy--a few months ago that anybody on SI could have made or has made that I've seen. He told me he was loading up on Jan 200 calls, and that for himself he felt a fortune could be made in them. He was right. In telling you the portfolio amount on Tuesday he probably wasn't including what he made on calls. I bought far less of them than I should have at that time but they have quintupled in value and may still have a ways to go. Incredible. So his investing strategies have gladdened some of us, and made a difference in our portfolios that to me, at least, is boggling. Jill