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Technology Stocks : Novellus -- Ignore unavailable to you. Want to Upgrade?

To: Henry D who wrote (2056)	3/12/1999 3:07:00 PM
From: Steve Fancy	Respond to of 3813

Never had a problem and I've traded a lot of NVLS options. Even on thinly traded stocks, as long as there is a bid/ask, the MM's have to buy a minimum of 10 at the bid or sell a minimum of 10 at the ask. If you haven't dealt with many options, it is risky business...easy to lose your money. I only bought half a position, just in case she pulls down to that 50 level yet. Although I don't usually hold options over earnings, I figure that will be the catalyst that moves this stock higher if nothing else. I'll probably bail at the 65 level if it hits it before hand. regards, sf

To: Henry D who wrote (2056)	3/12/1999 3:16:00 PM
From: Steve Fancy	Respond to of 3813

Henry, FWIW, if you want the stock at 50, take a look at selling some puts. For instance, you can sell APR 50 puts for about 3 1/2, June 50's for about 6, or September 55's for about 11. Come expiration, you either keep the cash if the stock stays above the strike you sell, or you get assigned the stock at the strike. Soo, in the event you get put the stock, commissions aside, in the case of the APR 50's you'd be buying at net 46.5, June 50's net 44, September 55, net 44. sf