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

To: T L Comiskey who wrote (50721)	11/17/1999 4:27:00 PM
From: Ruffian	Read Replies (2) \| Respond to of 152472

Stampede Coming> Option Expiration Situation by: Flooor_Trader 11/17/1999 4:06 pm EST Msg: 59462 of 59468 here's the scoop from the trading desk...there are still lots and lots of open written naked call positions in QCOM, there has been little or no covering of these positions. Either the option must be bought back or the stock must be bought to deliver against the open option position, either way there is upward pressure. Anyway, all the big players are playing "chicken" waiting for the price to come down on the options and even being greedy hoping that some in the money calls will go out of the money by Friday and they will pocket the premium. Believe me, time is catching up with these guys. 2 Days. That's what they have to cover. 2 days. If the price of QCOM starts to go up, they will begin to stampede over each other to cover first. All the players know each other's positions. Seriously, QCOM could go up 100$/share on Friday easily. There is very little stock in the float and most of the "buy" side on these calls is institutional, and most will take delivery of the stock, wanting QCOM in the portfolio at the end of the month and quarter. This situation is a powderkeg. I am bull nor bear, just reporting from the front.