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

To: Poet who wrote (7087)	4/30/2000 8:23:00 PM
From: Jill	Read Replies (1) \| Respond to of 8096

I hope he doesn't raise .50! I'll sic Ayn Rand's ghost on him!

To: Poet who wrote (7087)	4/30/2000 8:26:00 PM
From: Poet	Respond to of 8096

Here's Option Investor's write-up on NTAP, including possible call plays: NTAP - Network Appliance Inc. $73.94 (+17.06) Network Appliance, a veteran in network file serving and caching, has been providing data access solutions since 1992, and is a member of both the S&P 500 and NASDAQ 100 index. Corporations and ISPs, including Lycos, Yahoo!, Citicorp Securities, Siemens, Lockheed, Cisco, Motorola, and Texas Instruments have deployed NetApp solutions. NetApp Internet caching solutions, NetCache appliances and file servers deliver fast, simple, reliable and cost-effective access to network-stored data and enable simultaneous shared file services for UNIX, Windows NT and the World Wide Web. We haven't heard much from NTAP in a while, but now they're back on board. Since their 2-for-1 split in late March, NTAP struggled along with many other tech stocks. The networker sparred with its 200-dma the middle of the month and has come out on top, at least for now. NTAP is another Nasdaq stock that gave back about 67% of its market cap over the last month and a half, but now seems to be on more solid ground. So how did they end up on our radar screen this time? Well, Thursday's strong move off the $60 area didn't hurt. On Monday the company is expected to announce a new low-end product. The NetCache C1100, a thin specialized server that's built around an Intel chip. NTAP's first products were based on Intel chips, but the company had moved to Compaq's Alpha chips. Using Intel chips will allow NTAP to expand into a less demanding, lower priced market. This news is already in the market, but we are looking for investors to add to NTAP's new found momentum. The increasing popularity of server-appliances and the Internet's rising demand to store and transfer data and information quickly, has helped keep NTAP a popular pick. On Wednesday, Daniel Grozdea analyst at Paribas initiated coverage with a Buy rating and a price target of $100 a share. James Poyner Jr., from CE Unterberg Towbin, followed up on Thursday with a Buy rating as well. How do we approach this new play? With a $30 range this past week, NTAP can certainly be a bit volatile. Support is seen at the 100-dma at $66.69 and again near $62. The next potential stumbling block comes in near $80 and its 50-dma of $84.85. If trading is choppy early in the week, check the volume of bounces off support, before entering a new play. Last Monday NTAP announced that the Palm.Net service, a wireless service of Palm, Inc. has deployed NetCache appliances to enhance delivery of Internet pages to thousands of Palm VII hand held computer uses. The implementation of NetCache for the Palm.Net service represents the first time that a caching solution is being successfully used to expedite wireless data delivery on a large scale. BUY CALL MAY-65 NUL-EM OI=636 at $11.88 SL=9.00 BUY CALL MAY-70*NUL-EN OI=878 at $ 9.00 SL=6.25 BUY CALL MAY-75 NUL-EO OI=830 at $ 6.75 SL=4.75 BUY CALL JUN-70 NUL-FN OI=493 at $13.00 SL=9.75 BUY CALL JUN-75 NUL-FO OI=624 at $10.63 SL=8.00