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Technology Stocks : EMC How high can it go? -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (4558)	2/25/1999 8:07:00 PM
From: SJS	Respond to of 17183

I don't believe that the shares will be called away, but IF the stock price is above the strike price (115) 3 weeks from tomorrow, then I convert the long calls to stock and give them up. Either way, my short is covered. There is lots of time to play with these, continuing to let the out of the money option erode, while the in money calls keeps much of it's value. As an aside, the best you could this bull spread right now (without legging into it) is for the March 100 at 8.5 and the March 115 at 1.875, or a difference of 6.625. I did the same thing for 4.25. As a matter of fact, EMC common stock closed DOWN 1/2, but the EMBCC (the March 115) option closed UP! I hate when that happens!! Regards, Steve