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Technology Stocks : Cymer (CYMI) -- Ignore unavailable to you. Want to Upgrade?

To: Zeev Hed who wrote (9753)	11/14/1997 8:39:00 PM
From: TideGlider	Read Replies (1) \| Respond to of 25960

Zeev.. I agree with you about writing calls out of the money. You also at that time have the support of the big money. I more than frequently note that all but emtremely large floats are gragged across the expiration date without quite breaking money. I have also noticed that they push and pull them in slightly longer ranges until the puts are ready to score...then bringing the price just shy of the call money. Pretty good business and if the calls outweigh the puts sigificantly a surprise downgrade on very suspicious and at least least subjective reasoning is placed; causing the momentum fall and a big score for the writers. In this particular stock......I believe it was Montgomery. If you buy calls and expect no "IRAQ, HK, Japan, Brazil" type "crisis du-jour" then the best time to buy is severla day prior to expiration and into the following month "IN THE MONEY CALLS". Just my opinion.... Bruce BTW I am not going to proof read this...<G>

To: Zeev Hed who wrote (9753)	11/15/1997 12:37:00 AM
From: SPEEDRACER	Read Replies (1) \| Respond to of 25960

Zeev, How did that stategy work if it was put on when the stock was 30??? Just sell naked puts. After all it is almost the same thing!!! Please don't suggest covered writes to people in a stock that has gone from 15 to 50 to 16 in 6 months.... This is not the way to make $ in the markets. How did that strategy work on any tech stocks this year? It didn't!!! DELL GTW, ASND, WDC etc. A good strategy for a utility in this environment but certainly not techs.... SPEEDY================================================================

To: Zeev Hed who wrote (9753)	11/15/1997 2:03:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 25960

Zeev, he sold his rights for $1 not $5. He bought the stock for $26. If he'd have sold calls at that time of course he'd be much better off. (probably $5/share then). He's better off outright owning the stock because it does have the potential to zip back to 25, 30, 35 - at which point I'd advise to sell cc and buy protective puts. Happy scenario would be, you sold Dec30 calls and bought may puts, your dec30 gets exercised and you still hold the puts, then stock tanks and you cash in the puts, buy stock. Yum Yum! One of these days I'll get that prize. Greg