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PeakTrader.com Economics, Portfolio Optimization, and Technical Analysis
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arthur Guest
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Posted: Mon Aug 16, 2004 6:01 pm Post subject: PSFT |
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There were news that the hostile takeover of PSFT by ORCL (at $21 a share or more) will be approved by a judge in late Aug or early Sep. PSFT closed at 16.54 (16.75 in afterhours). The PSFT Sep 17.5 calls closed at 1.20. The Oct 17.5 calls closed at 1.50, but have less leverage. If PSFT opens a little higher tomorrow morning, I'll buy Sep to Jan calls (i.e. the expiration month and strike price will depend on the best priced calls, given the stock price, e.g. longer-term in-the-money calls have less leverage). It may be worth the risk for the potential return. |
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