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Strategies & Market Trends : MARKET INDEX TECHNICAL ANALYSIS - MITA -- Ignore unavailable to you. Want to Upgrade?

To: marginmike who wrote (5557)	12/11/2000 1:41:56 PM
From: Wyätt Gwyön	Respond to of 19219

OK, but why BRCM out of all the stocks that have shot up like rockets lately. I sold NTAP 03 50 puts w/NTAP around 46 for 18 7/8; bought back this morning for 12 3/8. Ironically, I sold those puts to replace the DEC 50s, which I had sold too early and bought back at a loss (rolling to 03). But thanks to the stock's performance, it worked out better to switch to 03s, since the large premium deflated about 1/3 in just a couple weeks thanks to our insane market. In spite of the insane spreads on LEAPS, they sure are nice to be short when a stock moves your way. I will look to short those again if NTAP gets back down below 55.