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jenna

01/12/03 5:28 PM

#10575 RE: jenna #10574

IBM...February 85 (best) or 90 puts look like the way to go here as well. Although I would (as QLGC play the intraday rally on EBAY, QLGC and IBM), for the "beef" of the next play much like EXPE and ROOM, I would a bigger potential move in the 85 or 90 puts than I could ever see in IBM on the long side. I would play intraday, as long as you don't hold this long overnight up to the first spike high of the session (10:30 to 11:00), and pick up more and more puts in the 85 to 90 price area as they cheapen. For a daytrade, you might even trade the January 90 puts intraday as well.