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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Sowbug who wrote (40805)	3/24/1998 5:04:00 PM
From: Joseph Colombo	Read Replies (1) \| Respond to of 61433

To All, I'm watching CNBC, and switching to CNNfn, and no information about COMS at all except one minute once about 1/2 hour ago. Is this a 'no big deal thing'??? Joe

To: Sowbug who wrote (40805)	3/24/1998 9:31:00 PM
From: AlanH	Read Replies (2) \| Respond to of 61433

Alan, how's that a hedge? Are you short ASND? <<I bought some May 40C (QQAEH) today as a hedge against other ASND positions.>> For the past 1.5 weeks, I've been playing both sides using a variety of combos -- letting profits run. On Friday I released one leg of a spread, exposing the position. Today's QQAEH offset the position creating a parabolic P/L curve. Unless ASND hangs @35, the profits run. FYI, I selected May because it's undervalued and offers much flexibility. For example, should ASND ascend (as many hope) the comparable APR calls can be sold short to lock profit for QQAEH -- depending on time value, momentum, etc. Sorry for the long-winded answer. Good luck.