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Strategies & Market Trends : Booms, Busts, and Recoveries -- Ignore unavailable to you. Want to Upgrade?

To: quasi-geezer who wrote (32420)	4/25/2003 6:02:28 AM
From: TobagoJack	Respond to of 74559

FC, I own some CHL, residual holdings from the wonderful days of 1999. I am in no particular hurry to add to CHL. It may bounce, or thud, but it does not payout divvies like other PRC shares on my list. I do have a straddle on QCOM established so, and is still OK: http://www.siliconinvestor.com/readmsg.aspx?msgid=18500597 January 28th, 2003 Hello Pezz, This Morning’s Report: In order to rip some ribs from the Mq bulls, to hedge my egotistical greed per your admonition, and to heed DAK’s advice on QCOM, I did the unforgivable: (a) I purchased a whole lot of QCOM shares at 36.90/shr (b) Shorted equivalent number of QCOM July Call 37.5 at 4.80/shr (c) Shorted a lot of QCOM July Put 35 at 4.00/shr Maurice, you probably know this but just in case: If QCOM stays within the band topped by 37.5/shr and bottomed by 35/shr in third week of July, I will have acquired my QCOM shares at effectively 28.10/shr; If QCOM rises above 37.5/shr in third week of July, I will have to sell my QCOM shares at 37.5/shr, keep the premium of 8.80/shr, netting a 25% return (50% annualized); and If QCOM drops below 35/shr in third week of July, I have to buy another lot at 35/shr, and would still be breaking even at approximately 32/shr. I will probably have a chance to close either and/or both call/put option trade before expiration. Chugs, Jay