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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: JH who wrote (3232)	7/6/2000 4:32:59 PM
From: Uncle Frank	Read Replies (3) \| Respond to of 6516

>> the conversion discount is as high as ever, at 20% (historic highs). If the merger was imminent, TVGIA should rally much more vigorously to erase the discount. John, then if one were to feel confident in the merger going through and wanted to profit through short term options, would it not make sense to buy atm calls on tvgia rather than gmst? Even if gmst remained flat, the arbitrage spread would guarantee spectacular results upon consummation, wouldn't it? The bid on UQKIG (September TVGIA 35 calls) is $7. If the arb spread went to zero, it would seem they should double. uf .