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

To: Samuel Wayne Turner who wrote (41360)	3/27/1998 6:23:00 PM
From: Sowbug	Respond to of 61433

Samuel, I'm only a month or two ahead of you in terms of options experience, but this is what I, for one, can tell you: cboe.pcquote.com is marvelous for delayed options quotes. Be sure to click on the "All options for this underlying" link at the bottom of the page for LEAPS and longer-term options. You're very close to a 100% profit on your April 35 calls. A certain person not licensed to render brokerage services in California gave me great advice a while back to sell half your options holdings when you hit 100% so that you can safely let the rest run up as high as you can and know that at the very minimum you're now playing with the house's money, not your own. The same advice might not apply, though, with your September calls. Almost all their value right now is time premium, not intrinsic value, which (to me, perhaps illogically) means that you have much more of a cushion to see how high they'll go. If you think $60 by the end of the summer, then they'll be worth $2,500/contract ($60-$35 = $25 intrinsic value, no time value by then). But until then, you can handle several corrections to the low $30s because the September options will hold their time value for a few months. Thus, you might want to let them run way past a 100% profit. Finally, buy short-term, out-of-the-money options with money you never want to see again.

To: Samuel Wayne Turner who wrote (41360)	3/27/1998 6:29:00 PM
From: michael modeme	Respond to of 61433

Sam, go to this site for option prices: Dreyfus Brokerage Services. Go to options (next to equities) and then enter in a ticker symbol (for the stock) and both calls and puts will be drawn up. Good luck.

To: Samuel Wayne Turner who wrote (41360)	3/27/1998 6:54:00 PM
From: AlanH	Respond to of 61433

Options on Ascend: Could someone please post the options prices on Ascend. I bought 20 april 35 calls this week at 1 3/4 and still have 10 september 35 calls I bought at 5 1/4. I need to be able to hold some more calls before this thing becomes a rocket ship and I miss the boat. I am relatively new at options play but am thinking I am better off playing say options 2-3 months out which I can purchase more of than options 6-7 months out that are more expensive because I believe our big run up is starting and 3months should be enough time. Thoughts or advice?? Also, i am holding 2k shares at average price of 37.5 A few ideas: i] Since you are buying and not writing, your risk is limited [duh]. Nonetheless, I'd recommend that you acquire "Options as a Strategic Investment", by Lawrence McMillan (if you don't already own it). The follow-on book, "McMillan on Options", is fine but does not offer follow-up activity -- which is requisite in maximizing profit, minimizing loss. Such text is a nice starting point. ii] Generally, the 2-3 month plan is good, b/c you're avoiding undue time premium, yet capturing a reasonable time window. As profit occurs, you can liquidate or lock it in by selling the nearer term contracts. [Example: You own 50 Jun 45C. On Apr 10, ASND is at 42.5, so you elect to sell =< 50 APR 45C. On May 4, ASND is at 47, so you elect to sell 50 (potentially, more) MAY 50C.] Alternatively, you can roll the 2-3 month contracts out (and, potentially, up) as time passes. iii] Since you are long ASND 2K, you already benefit from a run-up. Therefore, the purchase of CALLS simply reinforces the position -- in one direction. You may consider purchasing puts as insurance for the underlying (ASND) and your calls. This requires some diligence to ensure that you don't spend all your profit potential on options. iv] A common habit for novice options traders is to view the position as "one transaction." Naturally, it's important to set up contingencies before the initial transaction, identifying both favorable and unfavorable scenarios. In addition, you should be willing to liquidate portions of the position to lock profit or limit loss. v] The obvious cliche: cut losses, let profits run. Good luck!

To: Samuel Wayne Turner who wrote (41360)	3/27/1998 7:03:00 PM
From: Souze	Read Replies (1) \| Respond to of 61433

Options on Ascend Like Michael, I use the CBOE screen to check on my one Ascend LEAP ('00 45 Call). To check on an individual option or LEAP, just key in the option/LEAP symbol preceeded by a period; for '00 45 Call, that's '.VSDAI' . If you don't know the symbol, the CBOE site also has instructions on how to piece it together from a root name, strike price and expiration. Souze

To: Samuel Wayne Turner who wrote (41360)	3/27/1998 8:11:00 PM
From: Souze	Read Replies (1) \| Respond to of 61433

Options on Ascend - That's '99 Leap not '00 Correction: VSDAI is '99 Call 45 Leap, not '00. Must have been wishful thinking on my part....

To: Samuel Wayne Turner who wrote (41360)	3/27/1998 10:26:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

DESCRIPTION LAST BID ASK CHG HIGH LOW VOL OI SYM ------------- ------- ------- ------- ------ ------- ------- ------ ----- ----- C APR98 25.0 12 5/8 12 3/4 13 1/8 +7/8 12 5/8 12 1/8 13 1534 QQADE C APR98 30.0 7 3/4 7 3/4 8 +7/8 7 3/8 7 1/4 452 3269 QQADF C APR98 35.0 3 3/8 3 3/8 3 1/2 +1 3 1/4 3 1/4 2248 12875 QQADG C APR98 40.0 13/16 3/4 7/8 +5/16 9/16 9/16 2686 7603 QQADH C APR98 45.0 1/8 1/16 3/16 +1/16 1/8 1/8 70 1655 QQADI C MAY98 25.0 11 5/8 12 1/2 13 1/4 0 0 0 0 24 QQAEE C MAY98 30.0 8 8 1/8 8 1/2 +1 3/8 8 7 5/8 17 229 QQAEF C MAY98 35.0 4 1/4 4 1/8 4 3/8 +7/8 4 1/4 3 1/2 2391 1691 QQAEG C MAY98 40.0 1 11/16 1 5/8 1 13/16 +9/16 1 1/2 1 1/2 926 2061 QQAEH C JUN98 20.0 13 17 3/4 18 1/8 0 0 0 0 372 QQAFD C JUN98 22.5 13 3/4 15 1/8 15 7/8 0 0 0 0 156 QQAFX C JUN98 25.0 12 3/4 13 1/8 13 1/2 +1 3/8 12 3/4 12 3/4 28 1177 QQAFE C JUN98 30.0 8 3/4 8 3/4 9 +1 8 3/8 8 1/8 171 3394 QQAFF C JUN98 35.0 5 1/8 5 5 1/4 +1 5 1/8 4 3/8 837 7525 QQAFG C JUN98 40.0 2 1/2 2 9/16 2 5/8 +5/16 2 7/16 2 1/4 819 10470 QQAFH C JUN98 45.0 1 15/16 1 1/16 +1/8 1 1/16 13/16 208 5389 QQAFI C SEP98 22.5 12 16 16 3/8 0 0 0 0 17 QQAIX C SEP98 25.0 10 3/8 13 7/8 14 1/4 0 0 0 0 149 QQAIE C SEP98 30.0 10 10 1/8 10 1/2 +1 10 10 3 340 QQAIF C SEP98 35.0 6 3/4 6 5/8 6 7/8 +1 1/8 6 3/4 6 5/8 34 2411 QQAIG C SEP98 40.0 4 1/4 4 1/8 4 1/2 +1/2 4 4 370 2196 QQAIH C JAN99 20.0 17 5/8 18 3/4 19 1/2 0 0 0 0 409 VSDAD C JAN99 25.0 15 1/8 15 1/8 15 1/2 +5/8 15 1/8 14 3/4 10 2528 VSDAE C JAN99 30.0 11 3/4 11 1/2 11 7/8 +1 1/8 11 3/4 11 119 5406 VSDAF C JAN99 35.0 8 1/2 8 1/2 8 7/8 +3/4 8 1/2 7 7/8 80 2850 VSDAG C JAN99 40.0 6 1/8 6 1/8 6 1/4 +1/2 6 1/8 5 3/4 98 4338 VSDAH C JAN99 45.0 4 1/4 4 1/4 4 1/2 +3/8 4 1/4 3 7/8 191 3713 VSDAI C JAN99 50.0 2 11/16 2 7/8 3 +1/16 2 7/8 2 5/8 102 942 VSDAJ C JAN99 60.0 1 1/8 1 1/8 1 3/8 +1/8 1 1/8 1 1/16 176 5529 VSDAL C JAN00 20.0 20 7/8 21 1/4 21 5/8 +1 1/4 20 7/8 20 3/4 16 436 LZCAD C JAN00 25.0 18 18 1/8 18 1/2 +7/8 18 18 35 1148 LZCAE C JAN00 30.0 15 15 15 3/8 +3/4 15 14 1/2 88 2517 LZCAF C JAN00 40.0 10 1/8 10 1/4 10 5/8 +1/4 10 1/4 10 203 4851 LZCAH C JAN00 50.0 6 7/8 6 3/4 7 1/8 +1 6 1/2 6 3/8 106 3064 LZCAJ C JAN00 55.0 0 0 0 0 0 0 0 0 LZCAK C JAN00 60.0 4 1/8 4 1/8 4 1/2 +1/2 4 1/8 4 1/8 145 2486 LZCAL * * * P U T S * * * For DBS clients authorized to trade options. Click on description to go directly to option order entry. DESCRIPTION LAST BID ASK CHG HIGH LOW VOL OI SYM ------------- ------- ------- ------- ------ ------- ------- ------ ----- ----- P APR98 25.0 1/16 0 1/8 -1/8 1/16 1/16 120 1138 QQAPE P APR98 30.0 1/8 1/16 3/16 -1/8 3/16 1/8 388 7431 QQAPF P APR98 35.0 5/8 5/8 3/4 -7/16 13/16 13/16 629 3081 QQAPG P APR98 40.0 3 3 3 1/4 -1 1/2 3 3/4 3 174 756 QQAPH P APR98 45.0 7 7/8 7 7 3/8 -7/8 7 7/8 7 7/8 10 34 QQAPI P MAY98 25.0 5/16 1/16 3/16 0 0 0 0 360 QQAQE P MAY98 30.0 9/16 3/8 1/2 0 0 0 0 711 QQAQF P MAY98 35.0 1 7/16 1 1/4 1 3/8 -1/4 1 1/2 1 3/8 27 617 QQAQG P MAY98 40.0 4 1/8 3 1/2 3 3/4 -7/8 4 1/8 4 1/8 3 46 QQAQH P JUN98 20.0 1/8 1/16 3/16 0 0 0 0 1140 QQARD P JUN98 22.5 3/8 1/8 3/8 0 0 0 0 1648 QQARX P JUN98 25.0 3/8 3/16 5/16 0 3/8 3/8 10 1694 QQARE P JUN98 30.0 3/4 11/16 15/16 -3/16 15/16 3/4 252 3258 QQARF P JUN98 35.0 2 2 1/16 2 1/4 -5/8 2 3/8 2 96 4197 QQARG P JUN98 40.0 4 3/4 4 1/2 4 3/4 -7/8 4 3/4 4 1/2 56 2652 QQARH P JUN98 45.0 8 1/4 7 3/4 8 1/4 -5 1/4 8 1/4 8 1/4 10 122 QQARI P SEP98 22.5 13/16 7/16 9/16 0 0 0 0 255 QQAUX P SEP98 25.0 1 5/8 7/8 0 0 0 0 1173 QQAUE P SEP98 30.0 1 5/8 1 9/16 1 3/4 -9/16 1 7/8 1 5/8 103 833 QQAUF P SEP98 35.0 3 1/2 3 1/8 3 1/2 0 3 1/2 3 3/8 60 479 QQAUG P SEP98 40.0 6 1/8 5 1/2 5 7/8 -3 1/8 6 1/8 6 1/8 20 715 QQAUH P JAN99 20.0 1 1/8 1/2 5/8 0 0 0 0 426 VSDMD P JAN99 25.0 1 7/8 1 1/4 1 7/16 0 0 0 0 1174 VSDME P JAN99 30.0 2 3/4 2 7/16 2 11/16 -1/8 2 3/4 2 3/4 22 2502 VSDMF P JAN99 35.0 4 1/2 4 1/8 4 3/8 -3/8 4 1/2 4 1/2 15 818 VSDMG P JAN99 40.0 6 7/8 6 3/4 7 1/8 -2 1/2 7 1/4 6 7/8 16 1688 VSDMH P JAN99 45.0 10 1/8 9 3/4 10 1/8 -3/4 10 1/8 10 1/8 44 421 VSDMI P JAN99 50.0 17 3/8 13 5/8 14 0 0 0 0 27 VSDMJ P JAN99 60.0 23 1/4 22 1/4 22 3/4 0 0 0 0 71 VSDML P JAN00 20.0 1 7/8 1 7/16 1 5/8 0 0 0 0 384 LZCMD P JAN00 25.0 3 2 9/16 2 15/16 -1/2 3 1/8 3 20 1301 LZCME P JAN00 30.0 4 5/8 4 1/4 4 5/8 -1/4 4 5/8 4 5/8 6 1980 LZCMF P JAN00 40.0 9 1/4 9 9 3/8 -2 7/8 9 1/2 9 1/4 18 1235 LZCMH P JAN00 50.0 16 1/2 15 1/4 15 5/8 0 0 0 0 438 LZCMJ P JAN00 55.0 0 0 0 0 0 0 0 0 LZCMK P JAN00 60.0 24 1/2 22 3/4 23 1/8 0 0 0 0 1078 LZCML