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

To: Leland Charon who wrote (45366)	6/9/1998 4:35:00 PM
From: Stoctrash	Respond to of 58727

more warnings.....nothing unexpected though... "16:26 [WDC] WESTERN DIGITAL SEES Q4 REVENUE IN RANGE $830 MLN TO $864 MLN. 16:26 [WDC] WESTERN DIGITAL SEES Q4 LOSS 45 CENTS TO 67 CENTS. 16:26 [WDC] WESTERN DIGITAL SEES Q4 FALLING SHORT OF ESTIMATES. 16:24 [FSTR] L.B. FOSTER SELLS WEST VIRGINIA PIPE MANUFACTURING FACILITY. 16:23 [LSCC] LATTICE SEMI SAYS SHORT-TERM OUTLOOK 'CLOUDY'. 16:22 [LSCC] LATTICE SEMI CITES WEAK DEMAND IN ASIAN MARKETS. 16:21 [LSCC] LATTICE SEMI CITES 'TURBULENT' CHIP, PROGRAMMABLE LOGIC MARKET CONDITIONS. 16:20 [LSCC] LATTICE SEMI SEES NET INCOME, EPS 30% LOWER THAN PRIOR QUARTER. 16:20 [LSCC] LATTICE SEMI SEES Q1 REVENUE 20% LOWER THAN PRIOR QUARTER. 16:20 [LSCC] LATTICE SEMICONDUCTOR SEES Q1 OUTLOOK UNDER EXPECTED 4%

To: Leland Charon who wrote (45366)	6/9/1998 6:01:00 PM
From: Patrick Slevin	Read Replies (2) \| Respond to of 58727

I think you are premature, although being long options puts you at a disadvantage with respect to premium. Just a thought. I'm not long though I was tempted in the final innings. I really think this market has a high probability for an upside breakout; albeit it short-lived. However, premium being in the time frame that is just begging for stripping the option play....my take....at this time is to be net short index puts for a day or two. I don't think you did the unwise thing with your calls, nice trade. WHOOPS EDIT. I thought you were long calls. Sorrie. Completely off base with my earlier observation. I did not know you were long puts....excellent maneuver.