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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: Carl Fritch who wrote (904)	6/22/1998 2:38:00 PM
From: jef saunders	Respond to of 2241

hi. i bought LEH lehman brothers calls before they announced earnings. i bought january 70 calls with the stock at 75, and then again at 77. earnings came out and the stock has stayed flat. i don't understand it. they beat estimates by 43 cents. i thought people were just happy if a stock beat estimates by a few cents. earnings were up 129%. can anyone shed some light on what i did wrong? i'm still long the calls and would think the stock would continue up...but i'm already wrong once. thanks, jef