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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Knighty Tin who wrote (54135)4/1/1999 1:32:00 PM
From: Knighty Tin  Respond to of 132070
 
To all, I am buying puts on Capital One (COF) as we speak. I am buying May 150s (COFQJ) and June 140s (COFRH). I am absolutely sure that I am right that we cannot continue to have this huge expansion in consumer credit with a huge crash. However, I am not as certain that it will happen by May or even June expiration. Which is why I use 90/10.

These puts are pricey on an absolute basis, but pretty cheap on a % basis, given the volatility of the stock.

COF is not a horrible co. This is simply a play on an overpriced trading sardine that depends on the easiness of the Fed.

MB



To: Knighty Tin who wrote (54135)4/1/1999 1:52:00 PM
From: Knighty Tin  Read Replies (1) | Respond to of 132070
 
To All, I am buying my second third of Intel puts. I've been putting this one off, thinking they were going to fake this quarter. I still think so, but I am beginning to believe the disaster is such that the inventory and costs of goods sold will be made public soon after the announcement. I am buying April 115s and May 110s.

MB


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