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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (31126)	8/14/1998 1:37:00 PM
From: Activatecard	Read Replies (1) \| Respond to of 132070

MB, Would you post a link to an article that explains your thirds put strategy. Thanks for all your posts and insights. This is a great thread! Steve

To: Knighty Tin who wrote (31126)	8/14/1998 1:41:00 PM
From: Michael Bakunin	Read Replies (2) \| Respond to of 132070

SBWRY vs. BUD: last time (reply#30066) I bemoaned SA Breweries' resilience in the face of the Rand's miseries. In the interim, the stock's dropped in local terms, too, placing its PE at a more reasonable (though still a little high) 16, while BUD's PE remains over 20. SBWRY's dividend yield is now up over 3%, BUD's just over 2%. bfanet.com I will nibble at a third of long SBWRY/short BUD. I have hopes for a further, short-term appreciation in the dollar, a relief rally on Wall Street, and more local-currency erosion in SA Brews before adding more. Another, very cute Cleveland Fed commentary (PDF): clev.frb.org mb

To: Knighty Tin who wrote (31126)	8/14/1998 3:48:00 PM
From: PaperChase	Read Replies (2) \| Respond to of 132070

MB. Great call (again) on CIEN. I do not have a position in TLAB or CIEN but have enjoyed watching you make money. <g> Since I can't figure out which way TLAB is going to trade these days and since I think it'll start swinging greatly in price, I am considering a long strangle with a November expiration. Here is what I do not understand: 1. TLAB will merge with CIEN in a share-for-share transaction but TLAB is trading at $57 and CIEN at $51.75. Why this disparity in price? 2. TLAB November Call and Put prices are very confusing. At TLAB's $57 stock price I'm seeing Nov 55 CALL CQZKK @ $1 3/8 !! (NOV 60 Calls not listed yet) and I'm seeing Nov 55 PUT CQZWK @ $14 !! I can't figure out why TLAB's option costs are so far off relative to its underlying stock price and so I have kept my option money on the sidelines for now. Thanks for your help in understanding this situation. Do you think a long strangle is the best way to play this volatility?