Also, I would like to take this time to say that I truly appreciate all of the support each and every one of you has shown. All of you give me the inspiration to write every day.
As always, thank you for your kind coaching! Would you please address the MXIM delisting situation in your Friday column? I am concerned about the large bid-ask spread now being quoted for these options, and would like more information. Understand Maxim (MXIM) has been delisted from Nasdaq. Fidelity advises that Maxim Feb $25 (XIQBE) calls can be traded to "close the position" only, which makes it impossible to average down the XIQBE position. Is this policy industrywide or specific to Fidelity? Can you address the delisting of Maxim from the Nasdaq and it's impact on our Feb. 25 calls. As I understand it no-one can purchase options only exit existing positions. The stock was upgraded by Goldman Sachs Thursday but the recent rise in the stock price is having no impact on our options. Any advice would be greatly appreciated, I for one am completely confused. Thanks. Numerous questions regarding the delisting of Maxim have been pouring in this week. I understand your concern, as this is not a common occurrence. However, we need to keep a level head and not panic. According to Reuters yesterday: Goldman Sachs replaced National Semiconductor Corp (NSM) with Maxim Integrated Products Inc (MXIM) in its conviction buy list, and said it expects Maxim's earnings growth to substantially accelerate in calendar year 2008. National's distributors are continuing to lower inventories, and appear likely to do so into year-end, which pushes out a key catalyst for the stock, driving its removal from the list, the brokerage said in a note to clients. Goldman retained its "buy" rating and a $30 price target on National Semiconductor.
First off, just for the record ... I was 10 years old in 1986 and was a die hard Mets Fan ... even though I grew up in Boston (the Mets were my first little league team and we had WWOR on cable). You were my favorite player because of your aggressive style of play, and I tried to emulate your stance, head first slides and always wore #4. Thanks for all the fun (not to mention bruises and busted fingers). I now work for a major Internet company, but actively trade stocks as a hobby and to supplement my income. I've been following your 'in the money' call options strategy, but there are a couple of aspects I don't fully understand yet.