Currently looking at Nokia (NOK), which could be an interesting play. It's gotten to the point where the downside risk is small enough to give this a speculative shot. Thinking a buy-write is the way to go here, using the JAN 04 5.00 calls, to really minimize the cost basis. If it gets liquidated, it won't be a big loss. If it happens to take off or get bought out, I won't be too broken up over getting called away for what would be about a 100% gain...
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Black Turtle power!