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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: MeDroogies who wrote (74435)	12/22/1999 3:05:00 PM
From: Night Writer	Read Replies (1) \| Respond to of 97611

MeDroogies, Look at the MaxPain information again. It will tell you Jan is not a good month for it. All the LEAPS positions taken over the last two years throws it off. At the same time, I think 32 1/2 is a good position. Wish I had bought some. I know the 35s are a long shot. I bought them cheap as a long shot also. If CPQ isn't going to make it, I might sell them back along with some covered calls. NW

To: MeDroogies who wrote (74435)	12/22/1999 3:17:00 PM
From: Night Writer	Read Replies (2) \| Respond to of 97611

MeDoogies, I think 35 is overly optimistic (why I went w/32.5's). If I'd bought cc's last week, I have a double + already, so you'd expect some heavy selling to take place. cc are covered calls. Covered calls are when you sell calls on a stock you own. If a stock holder thinks his stock price might drop, he can sell in the money calls. When the stock price drops below the strike price he will then buy the calls back at a cheaper price. Normally this is not done until close to expiry date. It is like selling the stock you own short. Of course if the stock goes up, you lose the stock, or lose money buying the calls back. NW