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Strategies & Market Trends : Tech Stock Options -- Ignore unavailable to you. Want to Upgrade?

To: The Perfect Hedge who wrote (53622)	9/23/1998 11:51:00 AM
From: Lee Lichterman III	Read Replies (1) \| Respond to of 58727

I can't decide. There is so much premium built in to these that it is ridiculous. I am considering either going deeper in the money with the 60s to strip some premium off or else go out of the money for volume and get the 50s myself. IBM trying to move up again but I don't think it was loaded in that last buy program since it didn't really spike up but instead just crawled. Indexes look to be running out of steam. That last push was over 1000 TICK yet the RUT move impressively and the SPX and OEX only managed minor moves. DOW took allot to push up and is already back sliding. I think the top may now be SPX 1055, OEX 510 and DOW 8100. This would be bad on the DOW in that it can not easily continue the stair step pattern up with the other indexes. The RUT's move may be the blow off run in the small caps Bill was talking about a few weeks ago or else a healthy rebuilding of the smaller issues.