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

To: waverider who wrote (64472)	1/26/2000 11:53:00 AM
From: Detail-MD	Respond to of 152472

Somebody made a killing today. I was thinking of following this trade for a hedge, but didn't have the free cash flow. Check this out, from the options writer at TheStreet.com.... "A call to the San Francisco options trading floor revealed that not everyone is sure the Mighty Q is going to blow its number away. "They'll be lucky to get to the whisper number," said one market maker. A huge investor came in and bought roughly 10,000 puts in the February 110, 120 and 130 strike prices. "It's pure speculation, but this same guy comes in every month and sets up a trade like this, then holds it until expiration," the market maker said. "This stock is just a pure speculation play for the retail side: When the stock goes up, they buy calls. When it goes down, they want to sell them like crazy." The overwhelming sentiment this month is that "people on the retail side are trying to sell their calls. I think they see real risk. They don't see a real likelihood of stock popping 50." Qualcomm's February 130 puts are down 3 3/8 ($337.50) to 6 5/8 ($662.50)."