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To: Thean who wrote (1292)7/23/1998 5:29:00 PM
From: Alias Shrugged  Read Replies (1) | Respond to of 14427
 
Thean - I like the downdraft, too.

Where do you see support for HD - around 42.5? At likely support, I will short deep in the money puts (say Aug 55s) against my long puts. Perhaps run 10 short 55s against 30 long 42.5s. HD will not report until August (I think) - so bulls have no reason to dump out totally. (I have long Aug HD puts at 47.5, 45, 42.5 and 40)

CPQ is coming into range also. Support around 28?? (I have long Aug CPQ puts at 32.5, 30 and 27.5)

Take Care

Mike