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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: ViperChick Secret Agent 006.9 who wrote (38836)	4/9/1998 5:01:00 PM
From: Jay	Read Replies (4) \| Respond to of 58727

O.K. Lisa... I'll try again to get some response to my idea. I've noticed after some positive major story about some company x, stock opens w/ gap much higher. After initial excitement, price languishes or goes down slightly. After that, seems to trend up the rest of the day. It has happened enough for me to attempt to trade options with this in mind. I did that today with YHOO. Opened high. Options were up to 3 1/4 for Apr 110. Waited 'till they down to 2 1/2 and bought. A little over an hour later, they were at 3 5/8, so I sold. Don't generally look back, but if I'd stuck to guns, they closed over 6 1/2. Still... Could have done this successfully w/ CCI on monday. Would have worked for JNJ last week. So what do you experienced traders think? Jay