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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Gary Wisdom who wrote (57091)11/12/1998 3:12:00 PM
From: hitesh puri  Read Replies (3) | Respond to of 61433
 
Whats the matter thread ? ASND is cooking and this silence is deafening. Unfortunately I cannot see RT tick by tick quotes from work but as I posted in the morning from home big blocks were being bought. LU is going down fast so looks like its going to be soon. Last week Mory was in the East Coast for a while and also word is the SRA divesture plans will be out soon.

-hitesh



To: Gary Wisdom who wrote (57091)11/12/1998 9:44:00 PM
From: John Meares  Read Replies (1) | Respond to of 61433
 
Gary

Interesting idea!!

But how does this work. Say I hold 1,000 shares, sell 10 Jan 01 calls at 17. ASND get bought at 65. I sell - I then hold 17 naked calls? How does this work - it eats into the margin? Takes away buying power for years? What happens to the calls?

Never thought about this play - please detail all risks.

Thanks

John


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