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Technology Stocks : Ultratech Stepper -- Ignore unavailable to you. Want to Upgrade?

To: ccryder who wrote (1953)	12/28/1997 1:48:00 PM
From: sergio	Read Replies (1) \| Respond to of 3696

The long term gain holding period has been extended to 18 months. I doubt it these shorts had these holdings that long as of Jan 1, so I wouldn't correlate quick covering by shorts comes New Year's. I like some opinions on where Utek will be at 3rd week of Feb given current market conditions though. I think the Feb 20 calls spread to 22.5 calls are attractive. I'm thinking of a 1:2 ratio buy:write since I think it will be above 21 by then. My only problem with these are closing the out of money side is expensive relatively speaking, ie, I could never get a fill of 1/16 to close because greedy marketmakers spreads them at 1/16 bid by 1/4 ask. Sergio @Copyrighted