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Technology Stocks : How high will Microsoft fly? -- Ignore unavailable to you. Want to Upgrade?

To: alydar who wrote (51256)	10/16/2000 3:07:48 PM
From: rudedog	Read Replies (1) \| Respond to of 74651

Bob - my SUNW plays this year consisted of buying ZJXAP Jan 01 80 LEAPs in January and selling most of them in late March. In late May I sold Jul 70 SUXSN puts and bought WJXAP Jan 02 80 LEAPs. I have taken about half of the original stake off the table. The first play netted better than 3X in about 8 weeks. The second is currently at a 250% gain figuring only the LEAPs. If I include the fact that those LEAPs were 50% financed by the sale of puts which expired worthless last July, the second trade alone is 500% ROI.

To: alydar who wrote (51256)	10/16/2000 3:13:28 PM
From: rudedog	Respond to of 74651

Bob - in my enthusiasm for my great SUNW returns I neglected to answer your other question - "I am confused as to why you would even think of defending MSFT at this time." I am very impressed with the thinking and strategy behind .NET, so much so that I purchased a fair number of MSFT options which are currently aqua-lung candidates. I am a firm believer in "invest in the company, not the stock" and I think long term, MSFT will pay off. Actually I have been adding to my call option position on MSFT this week, along with DELL, CPQ and a few others. I don't think that making money on SUNW's current market momentum is incompatible with making a bet long term on MSFT.