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

To: Neil H who wrote (80)	4/28/1999 10:51:00 AM
From: Don Dorsey	Respond to of 497

Sony Petitions to Enter Telecom Field Apr 27, 1999, (Comline via COMTEX) -- Sony (6758) filed an application with the Ministry of Posts and Telecommunications April 27 for authorization to become a Class I communications provider. New wireless connections between telecommunications bases and subscribers allow providers to offer their services with relatively little investment and to circumvent the fees they would otherwise pay to use physical networks. Japan Telecom (9434) and a JV between KDD (9431) and Winstar Communications of the US have already announced they will seek to set up this type of service, which has become established in the US.

To: Neil H who wrote (80)	4/30/1999 9:17:00 PM
From: TobagoJack	Read Replies (1) \| Respond to of 497

Next time try this to raise cash and going for a ride. Bought SNE at $93, sold equivalent number of October Strike $90 Put options at 6 5/8 and equivalent number of October Strike $100 Call options at 6 3/4. Net purchase price for SNE is thus $79.625. Should SNE drop to 90 or below, I got to double up my SNE position at $90, and should SNE rise above $100, I get taken out of my position at $100 (resulting in a 25% gain for 6 months of waiting. Should SNE girate wildly below 90 or above 100, I get to close out my Call or/and Put position before October and hold on to my SNE position. Have been averaging 40%+ annual return playing the option spread on temporarily high volatility stocks (SAP, PAP, AMGN, AOL, ATHM etc).