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Technology Stocks : PSIX up 26.5%, Takeover(?) -- Ignore unavailable to you. Want to Upgrade?

To: Rutgers who wrote (5494)	1/26/2001 11:32:41 AM
From: Srexley	Respond to of 5650

You and Jay bring some nice posts to the board. I bought a little bit of this stock as a gamble at $1 1/4 a few weeks ago (when it first broke over $1). Don't have much to add analysis wise, but I did come up with a pretty good way to build my position, or make some money if the stock goes up. When the stock was trading a little over $2 1/2 a few days ago I looked at the options available and sold some April $5 puts for $2 7/8. I figured if I picked wrong (and the stock continued to go down) that it still was a better price ($2 1/8 effective price) than if I bought that day, and if it does make another run at $4 or so, I can buy them back for cheap (I assume). I'm getting more into options strategies lately and would welcome any thoughts or comments on this particular sell. Seemed like a good deal to me, but I am amazed at the level of expertise that some on SI have regarding options, and always eager to learn more. Scott