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

To: Piotr Koziol who wrote (80356)	3/28/2000 3:24:00 PM
From: Night Writer	Respond to of 97611

(DOW JONES) DJN: WSJ(3/28): Options Report: Traders Like Established Cos By Kopin Tan Dow Jones Newswires NEW YORK -- The spring may be back in technology stocks' strides, but if options trading is any indication, much of that optimism seems directed at established technology companies with proven earning potential. Yesterday's session saw traders focused on buying call options of such heavyweights as International Business Machines Corp., Compaq Computer Corp. and Cisco Systems Inc. After recent jitters suffered by the tech sector, investors may be reserving their bullish bets for old-line tech stocks better positioned to withstand any market woes-from interest-rate increases to investor skittishness. Investors opened new positions in IBM, buying calls with out-of-money strike prices. IBM had announced plans with Qwest Communications International Inc. to build 28 U.S. Internet data centers, a pact valued at $2.5 billion to IBM over the next seven years. IBM stock rose after Morgan Stanley Dean Witter upgraded its rating. At 4 p.m. in New York Stock Exchange composite trading, IBM rose 5 1/16 to 126 9/16. Its April 130 calls gained 2 to 4 5/8 on Chicago Board Options Exchange volume of 4,237 contracts, compared with open interest of 11,567, while 3,277 contracts changed hands on other exchanges. Cisco's calls also were the subject of lively trading. With Cisco stock edging up 11/16 to 80 1/16 on the Nasdaq Stock Market, the April 90 calls were at 3/4 on CBOE volume of 7,597 contracts, compared with open interest of 1,519, with 5,887 contracts on other exchanges. Meanwhile, as technology stocks regained ground after last week's wobble, investors looking to hedge their positions and lock in their profits again turned to put options in the Nasdaq 100 Trust. With the Nasdaq 100 Trust at 117 23/64, the April 108 puts gained 1/8 to 3 3/8 on American Stock Exchange volume of 4,230, compared with open interest of 4,170. (END) DOW JONES NEWS 03-27-00 08:20 PM * end of story *