Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: Jim Willie CB who wrote (51004)	11/18/1999 11:58:00 PM
From: FlameMe	Respond to of 152472

From TheStreet.com H-P Options Become Today's Hot Play By Erin Arvedlund Staff Reporter 11/18/99 2:14 PM ET Animal-house stock Qualcomm (QCOM:Nasdaq) today was joined by its bigger, older brother Hewlett-Packard (HWP:NYSE) in the frenzy that's unfolded in technology-stock options trading lately. Qualcomm rebounded 20 bucks again Thursday before settling back, but the stock remains very difficult to hedge, according to options market makers. So difficult, in fact, that Qualcomm has become the stuff of homicidal folklore. Rumors were swirling that Qualcomm stock this week was so volatile it was putting the Pacific Exchange market maker in Qualcomm options out of business. "We're 100% sure they're bankrupt," said a representative from one New York options-trading firm late Wednesday. "Nonsense," said a representative of Letco, the Qualcomm market maker on the San Francisco trading floor, who, if bankrupt, was still bothering to answer the phone. Welcome to the craziness of options, where volatile stocks like Qualcomm -- and Thursday, Hewlett-Packard -- turn investors into instant heroes or goats. Qualcomm on Wednesday was apparently drawing big money into the options pits, with an investor placing a 5,000-contract bet on the November 300 puts and 340 calls. The investor sold out of the 300 puts, but so far doesn't appear to have sold the November 340 calls. "Whoever bought those, by the way, left about $30 million on the table. They could have sold them at 70," or $7,000 per contract, at the peak of the option's value, said another market maker. (At that time, the stock was trading close to 400.) Those same November 340 calls on Thursday were trading at 12 ($1,200 per contract).

To: Jim Willie CB who wrote (51004)	11/19/1999 12:15:00 AM
From: JohnG	Respond to of 152472

JimWillie. Sweet Dreams. Hope ya break the bank!!! JohnG