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Strategies & Market Trends : P&S and STO Death Blow's -- Ignore unavailable to you. Want to Upgrade?

To: Jeff who wrote (22)	5/12/2002 5:56:09 PM
From: ajtj99	Read Replies (1) \| Respond to of 30712

Jeff, I'm really kind of debating whether to play this week at all. I've got June BTK puts that are already in the money after a day. I see the BTK either making a double bottom at 375 or hitting 370 and reversing. The upside I see on the BTK is 395 at the most, but more than likely 385-390. With this drop in full swing and the hard resistance at COMP 1625, it may be too risky to try and be cute with my options here, as I lose 20% just by closing them and buying them back (difference between bid/ask on 2-buys and sells). If that is the case, I may just sit tight and wait for a 4-bagger on my puts at a bottom. That triangle posted has an implied target of around 1300, which is close to my ideal hit at 1306. That will fill a very old gap.