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

To: John Stewart who wrote (2765)	4/10/2000 11:29:00 PM
From: Q.	Respond to of 3661

They weren't the most naked of naked calls, John. I was long MTSN equity, and I figured that since MTSN and GSNX are in the same sector, it was like writing covered calls on MTSN. Even better than covered calls on MTSN, really, because at the time GSNX stock had just gained a lot, relative to MTSN, despite having much poorer business performance. It was a bet that the spread between MTSN and GSNX would reverse. Fortunately, this bet paid off, as the spread has indeed reversed. MTSN once again has a higher stock price than GSNX, as it should. Anyway, writing naked calls is really no more dangerous than shorting a stock. You have the same unlimited upside risk in both cases. Nice move! Naked calls took big ones, my friend :')

To: John Stewart who wrote (2765)	4/14/2000 10:56:00 AM
From: Q.	Read Replies (1) \| Respond to of 3661

Your selling shares around 38 is starting to look like a really good move, John. Right now, I'm flat in MTSN, and as soon as my naked calls on GSNX expire, I'll be flat on the sector as a whole. A few days ago, my only remaining shares in MTSN and elsewhere in the sector were in my childrens' accounts. I didn't want to sell yet, because I'd rather wait to take a long-term capital gain if I can, so I shorted an offsetting amount in my own account. If the present tech stock rout worsens, I might unbox and go long again.