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

To: The Phoenix who wrote (59726)	2/4/1999 6:05:00 PM
From: Mighty Mizzou	Read Replies (2) \| Respond to of 61433

Heck no. I posted a few message back that I play with 20% of my ASND holdings. But I just play ASND with it, nothing else. I have bought at 77 and sold at 88 and recently bought at I think 82 and sold at 86. Now Im looking to get back in in the 70's. GO ASND!!!!!!!!!!!!!

To: The Phoenix who wrote (59726)	2/5/1999 4:37:00 AM
From: JH	Read Replies (1) \| Respond to of 61433

When hypsters start repeatedly SHOUTING (GO ASND !!!!!!!!!) their conviction about the absence of risk and assumption that LU will surely rise to some analyst's recent upgraded price target of $135 (implied short term price of $111 minus discount of $6 or $105 for ASND), I know that the top is near, and I SELL accordingly. During the past five trading days, I have bee raising cash to the tune of 65%. Guess I was lucky - part of my reason for selling was that I wanted to be worry-free during my upcoming ten day vacation. I'm currently short 125 contracts of the 02LU120c at a decent price of $2.05 (currently worth $0.50). I am also short 25 contracts of 02ASND90c at $3-3/4 from 1/27 (now worth $3/8) and short 50 contracts of 02ASND95c at $1 (now $1/8). I have a core postion of 6,000 shares of ASND at a cost of $70, along with a bunch of short ASND puts at various strikes of 70, 65, and 60. Looking to sell more ASND puts if and when the underlying hits support of $70. Let the market crash - I'd be happy to own more ASND at these low strike prices. IMO, selling short out-of-the-money LU calls against a long position in ASND is a great way to make money. The arb spread of $6 represents a terrific opportunity to short LU's volatility when it rises (ie. NOW).