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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Joseph Francis Torti who wrote (7951)	7/26/1998 3:12:00 PM
From: Herm	Respond to of 14162

Hi Joseph, Yes, there are 9,000 contracts worth of open interest for the ADPT LEAPs 15 JAN01 @ 3 1/8s. The stock is currently selling for $11 so these LEAPs will most likely appreciate way beyond the $15 strike price before the year 2001. So, there are many investors willing to capitalize on a short squeeze for this oversold stock. month short int. avg.vol. days worth of trade 07/98 4,749,306 1,892,556 2.51 06/98 5,100,748 2,100,505 2.43 05/98 5,165,268 3,129,356 1.65 04/98 4,247,104 3,167,077 1.34 03/98 4,344,539 3,342,074 1.30 02/98 3,482,955 3,205,037 1.09 01/98 3,409,345 4,143,284 0.82 NASDAQ: (ADPT : $11) $1,250 million Market Cap at July 24, 1998 Trades at a 45% Discount PE Multiple of 13.6 X, vs. the 24.6 X average multiple at which the Computer Peripherals SubIndustry is priced.