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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: The Phoenix who wrote (38900)	8/7/2000 6:03:58 PM
From: The Phoenix	Read Replies (2) \| Respond to of 77399

cbs.marketwatch.com

To: The Phoenix who wrote (38900)	8/7/2000 6:16:40 PM
From: Eski	Read Replies (2) \| Respond to of 77399

I'll bet he or she already cover most on the dip last Thrusday.The puts would of been in the money below 60. That might have been what propelled CSCO from 58 to mid 60's. Possible, if not I wouldn't sleep at nights, LOL. I would never short a stock into earnings.

To: The Phoenix who wrote (38900)	8/7/2000 8:43:36 PM
From: Eric	Respond to of 77399

Gary It's a virtual slam dunk! Eric

To: The Phoenix who wrote (38900)	8/8/2000 12:59:22 AM
From: Mark L.	Respond to of 77399

And one can only speculate what will happen to CSCO's stock price in the coming weeks as the buyer of those Sept 60 puts has to cover his position. I'm feeling $80 comin on... A put buyer does not have to cover a position. This is not a short sale. For all we know, this was a hedge for a fund that is long 4.2 million shares (though I grant that $60 is a strange strike price for this). In other words, it's possible that it's insurance, and like most insurance policies the buyer would prefer to see the premium go to waste.