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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: im a survivor who wrote (4718)	1/30/2007 7:23:00 PM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 5205

SanDisk warns of NAND flash oversupply, steep price declines 5:32 PM ET, Jan 30, 2007 - 1 hour ago EDIT - also guiding below expectations.... SanDisk Thomson Fin'l Q1 estimate $925M 5:32 PM ET, Jan 30, 2007 - 1 hour ago SanDisk forecasts Q1 sales $700M-$800M 5:32 PM ET, Jan 30, 2007 - 1 hour ago www2.marketwatch.com

To: im a survivor who wrote (4718)	1/31/2007 11:08:13 AM
From: Bridge Player	Read Replies (1) \| Respond to of 5205

I wrote the April 40 calls this morning for 3.00. This doubles my short call position on the long stock, since I am still short the Feb. 42.5s. I am expecting that with the bad news on future flash memory pricing and margin pressure that the stock doesn't rally back over 42.5 prior to Feb expiration. Willing to take that risk, which IMO is slight. At least I get another 3 bucks downside protection in case of a continued drop. Like you, I like the company, and have a lot of respect for Eli.