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Technology Stocks : Gateway (GTW) -- Ignore unavailable to you. Want to Upgrade?

To: Shawn M. Downey who wrote (6572)	8/26/1998 1:06:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 8002

Shawn don't buy back 50s without rolling. If stock drops, wait until expiry to let time value dry out. If it appears to remain itm then buyback and sell Jan50s at another profit. You may even be able to sell 55s at + cash flow. Don't lose money buying back calls (real cash) evn though you seem to hold it in the stock (can disappear overnight). I wouldn't worry about premature calls, I think that is only likely on much thinner stocks. Greg

To: Shawn M. Downey who wrote (6572)	8/29/1998 10:31:00 PM
From: Greg Jung	Read Replies (1) \| Respond to of 8002

At end of friday the dec50s - sep50s = $4. You might consider rolling out to December when gtw stock hits about 51. - movement in the septembers will stall as it approaches strike. It'll be a while but premium will be sucked out unless it does another cartwheel here in the 50s. There is an awful lot of open interest in the puts up and down the range of strikes, and very little in tha calls. I suppose the short players are using puts on GTW instead of shorting Dell, which is where there heart is. Otherwise I'd suggest to buy 40puts but with so many in the pot they are bound to be a waste of money. If Abbie Cohen ever gets the upper hand in the next few weeks then stock up on Jan 40s to hold. Good luck. It'll be interesting to see if this (put speculations) can hold the stock up into the current onslaught. Greg