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Technology Stocks : Oracle Corporation (ORCL) -- Ignore unavailable to you. Want to Upgrade?

To: Jim O'Brien who wrote (12439)	11/12/1999 9:05:00 PM
From: Charles T. Russell	Read Replies (1) \| Respond to of 19080

If you'd like to protect the profits against a probable late Nov NASDAQ correction you could buy some Jan or Feb puts at 65ish. Good hedge against the position your tempted to sell. If the stock sells off, close out the puts, put a little less profit in the Uncle Sam's bag and hold onto the low cost-basis shares. I'm pretty confident that ORCL will be in the 70s by Jan. You could short the box by the number of shares you're holding but the downside is a little steeper there.

To: Jim O'Brien who wrote (12439)	11/16/1999 3:16:00 PM
From: MichaelA	Read Replies (1) \| Respond to of 19080

Regarding taking some money of the table with ORCL. You could also sell a long term call (LEAP). The Jan 2001 calls are selling for $15 and change. This would give you 15 points of downside protection, while allowing you to sell the stock for an effective $80/share if it is over $65 in 1/01. If you want a belt and suspenders you could use some of the cash generated to by an OTM put (maybe shorter term -- this would help protect some of the remainder of your portfolio.