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

To: RoseCampion who wrote (56543)	12/23/1999 11:14:00 PM
From: edamo	Respond to of 152472

rose...even more succinct... instead of the trade in on a new car analogy by uncle frank....more like a turning in a leased car prior to lease end........the stock option is no more then a lease... the cmgi situation was set in early august...long 2000 @ 79, short 20 00100 calls @ 12, short 10 00100 puts at 30....so... -158000 +24000 +30000=104000=cost basis on the long @52. over 100 at expiration=2000x100=200000-104000=96000profit. position was done during the dark days of august when even qcom was sold off to 153...decided to squeeze, 02100 gave me added 52k (20x26spread)...maybe not so wise 12.5% per annum, but hoping so deep by spring they will be called away. reset when cmgi surged above 200, got max spread on the 02...spread around 23 now....still can close at or better then original position.