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Strategies & Market Trends : Arbitrage Plays -- Ignore unavailable to you. Want to Upgrade?

To: Keith J who wrote (142)	1/12/2000 12:09:00 AM
From: Paul Senior	Read Replies (1) \| Respond to of 376

re: TSII, VDIM, CNCX Buying VDIM today @ 13 1/2 for cash buyout @15 in "late March or early April". Bain is buying, Credit Suisse First Boston "has agreed to arrange 150M debt financing". Looks positive to me. I'll monitor TSII. At 13 7/8 now with cash buyout @ 15.25 in "late April". Also FWIW, CNCX (37 1/32) being bought out by NXLK for $45 in NXLT stock (collar applies- --g-- could be a strangle if NXLK, down about 10% today, continues to fall.) Paul

To: Keith J who wrote (142)	1/16/2000 7:19:00 PM
From: Allen Furlan	Respond to of 376

Keith, a few thoughts on being maxed out. Call options, when available, are a good play, significantly leverage your buying power, and also are less damaging in failed deals. I have 20 kroc March 15 calls( at 1 5/8) because I think that deal is very likely before April. Also selling puts is sometimes logical. I sold 10 fpc March 40 puts at 1 5/8 because I did not have funds to put 43,000 into a position. Initial margin was less than 8,000. When funds come in from completed deals the stock can be bought if necessary. This is a mixed strategy which can be used along with straight buys of desirable positions. I like my ctz position and will add to it. My reading of the prospectus leads me to believe we will get about 50 by February. Also bought tfh this week,very speculative but good return. Thank you for listing it in your post. P.S., how do you generate your list of candidates. Good luck.