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<DIV><FONT color=#000000 size=2>Being a non-tecnical kind of guy, I thought I
would add some class to my comments...!</FONT></DIV>
<DIV><FONT color=#000000 size=2></FONT><FONT size=2>I feel this should be a very
good short...at the opening. Unless something major happens overnight I
think I will short this</FONT></DIV>
<DIV><FONT size=2>Any comments...</FONT></DIV>
<DIV><FONT size=2></FONT><FONT color=#000000 size=2></FONT> </DIV>
<DIV><FONT color=#000000 size=2>Regards</FONT></DIV>
<DIV><FONT size=2>Don Green</FONT></DIV>
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</x-html>From ???@??? Thu Oct 16 17:50:49 1997
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Date: Thu, 16 Oct 1997 17:23:58 -0700
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From: Steve Antoch <SteveAn@xxxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: RE: SOD
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Status: O
Ok, here goes. I'll hang 'em out for all to see.
Just bought some MSFT NOV 135 calls @5 3/8.
The trade seems to be going well so far, as they closed bid 5 5/8 to
asked 5 7/8.
Why did I make the trade?
1) MSFT will report earnings after close on Tuesday.
2) MSFT was near bottom of trading range, just above about 3 months of
support
3) MSFT long term trend still is up.
4) MSFT displaying what looks like symetrical triangle that should be
breaking out from these levels soon.
5) Both MSFT and the Market in general seem a bit oversold (what's
that old adage - 3 steps and a stumble , 3 stumbles and a step?)
6) Expiration tomorrow should see more Open Interest coming in as
these are closest to the money, as well as the
tensions earnings announcements tend to bring.
7) Maybe it's my imagination, but expiration day seems has a tendency
to mark short term reversals.
Next steps:
Looking to either sell some 140's or 145's calls on a bounce before
earnings on either Monday or Tuesday,
in order to leg into a vertical spread for cheap on what should be
increasing implied volatility.
All of the above unless MSFT closes below 131 (lows on 8/18 and 9/18)
, then I'll just bail on it and take my lumps (maybe go short?)
Wish me luck.
Steve
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