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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: uu who wrote (12260)	12/1/1998 7:55:00 PM
From: Alok Sinha	Read Replies (1) \| Respond to of 64865

Addi, For the very same reasons that you have outlined with respect to a frothy market, I have been reducing my risk over the last few weeks through covered calls, and long puts (usually I don't go long on options, but the excessive valuations are forcing me to buy insurance). However, I did use the market collapse yesterday to go long SUNW again by buying Dec 80 calls and selling naked puts at 70 and 75. I think we are going to see very high volatility over the next few weeks. Even as a SUN bull I feel, SUN needs to build a base in the high 60s and 70s before it can make a "sustainable" move further to the upside. Hope you are enjoying the ride up with ADIC (I was lucky to buy at 6 1/2). There may be some profit-taking in the stock even if the next period earnings are good. Regards Alok