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Technology Stocks : 3Com Corporation (COMS) -- Ignore unavailable to you. Want to Upgrade?

To: miklosh who wrote (23243)	10/26/1998 11:24:00 PM
From: joe	Respond to of 45548

miklosh, I think Mr. Barkat thinks that COMS most probably won't go beyond $37-38. So he's satisfied with the quickest way to get to that profit. OTOH, he may be leaving the backdoor open for the possibility of a big breakout. Not sure exactly how he'd do that, except along the lines that David uses (rebuying back shares at hopefully an opportune time). good luck tomorrow, joe

To: miklosh who wrote (23243)	10/27/1998 5:00:00 PM
From: Barkat	Read Replies (1) \| Respond to of 45548

Hi Miklosh, Basically, I chose to sell at the money, near term calls because I felt they were the most overvalued, speculated on, and the most subject to change on a pull back. They were also the ones least likely to appreciate as much with an upward move because of the price, lack of time, and excessive premium. I was not planning on holding until expiration win or lose. The contracts I sold were not covered. I haven't owned COMS stock since 1997. If COMS were in the $20's I may have straddled by buying a higher months expiration at a ratio of 2+ to 1 of the contracts sold, if certain objectives were reached (wiggling in). As you can tell my timing stunk on entry and exit, but I do not believe in pressing positions more than I feel comfortable. If I felt the options were fairly valued I wouldn't have touched the position. Were you able to make a sell? Good Luck