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To: Sam Citron who wrote (5711)6/2/2003 9:56:42 AM
From: Sarmad Y. Hermiz  Read Replies (1) | Respond to of 13403
 
xlnx bot 300 @ 30.10. Short term. Looks like a bad entry already.



To: Sam Citron who wrote (5711)6/2/2003 9:59:51 AM
From: Sam Citron  Read Replies (1) | Respond to of 13403
 
LSI SLD 2000 6.49 avg. 5% gain.



To: Sam Citron who wrote (5711)11/16/2004 1:00:02 PM
From: Sam Citron  Respond to of 13403
 
XLQAG XLNX Jan 05 35.000 Call XILINX, INC Sold To Close 20@0.75
(Loss $9,900 on this leg of the straddle)

Lifting a leg on an early straddle position where I sold out of the money puts to buy out of the money calls on a stock I was very bullish on. I decided not to wait around for these calls to expire worthless, even though these next two months are normally bullish. The redeeming feature of this trade is that I pocketed $8,800 for selling 20 Jan 05 25 puts. Message 18988284

This straddle was a low risk bet on a prediction made by Cary that XLNX would reach 60 by Jan '05. If he had been right, I would have made $58,800. So it's not unjust that I lose $1,100 for being wrong. I took the hare approach and lost. Cary is the tortise and recognized all along that his timing could be off. Still, it was a pretty low risk bet.

Sam