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Non-Tech : Invest / LTD -- Ignore unavailable to you. Want to Upgrade?

To: Broken_Clock who wrote (14259)	2/22/2001 11:40:17 PM
From: SJS	Read Replies (1) \| Respond to of 14427

Hey Pappy.....Hows the island life? LOL What's the catalyst(s) for owning LU now? I'd say that if you want to own it, don't buy it long, write a calendar strangle. The 12.5 March puts and the April 15 calls, or the March 10 puts and the April 15 calls, or something similiar. If you don't wanna do a calendar strangle, then write the same month (March 12.5 puts, and March 15 calls, or same thing for April.) The only risk are the naked calls, if LU, for some reason, rights the ship and spins off something good, or something like that. I would have to check the greeks and check the returns for a buy/write. Will do so if you need me to. BTW: Saw this tonight: ______ Lucent Tech (LU) 12 1/2 +115/128: Reuters reporting that LU expects to secure a renewed line of credit by midnight tonight as part of $6.5 billion in total financing; JPM. and Salomon Smith Barney are working to arrange the $4.5 billion credit agreement which includes the renewal of the $2 billion credit line, and another $2.5 billion which will be assumed by Lucent's Agere Systems unit at the time of its initial public offering; LU's stock has dropped almost 77% over the past year. Steve