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Technology Stocks : CMGI What is the latest news on this stock? -- Ignore unavailable to you. Want to Upgrade?

To: Judy who wrote (4988)	2/26/1999 3:39:00 PM
From: SJS	Read Replies (2) \| Respond to of 19700

I didn't mention this yesterday, but I have already sold some 95 puts (in a non-IRA account), which are now unhedged with long puts. In other words, truly naked (short) puts. I plan to stay unhedged for now. In the IRA account, I am staying with just the bull spread, and the long stock. Bull spread is holding up pretty well today. I measure that by the net spread cost (subtracting the short call last trade from the long call last trade). It hasn't even netted below 5 anytime today (nor would it). I did it for 4.25, or so. The way to do calls spreads and to level the playing field, if you can guess right, is to leg into it. You increase your odds tremendously if you guess right. That doesn't mean the spread will always be successful. But if it does, it really does work well, and you make alot more. PS: Just by eye, it appears they are keeping the juice in the March 115. Therefore, it's a great call to SELL, as it appears to be overpriced. I think I would find that so using the option calc...