Trish,
>> "Hopefully I'll still be here next week and won't get the
dreaded call from the Margin dept.sigh." <<
uh-oh. Do you have a large %-age in ASND, and on margin? I lost a lot of bux like that in 3com in such a position. I caught the falling knife, and it hurts!
Don't sell out-of-money calls as was suggested, since if stock goes down the buy-back price will not drop as fast, and you may have to convert to cash, ie. buy the calls back. So it doesn't protect your position, because you are stuck until the options expire.
It is a good thing if you are already in profit position, but still if you have a stretched margin it is pretty hairy. Buy and hold is not a strategy for a margined account, imho, unless you add money to pay down the margin.
Good luck, I think asnd is safely over 40, if 40 is a problem then you should do something for it. Always an off-chance of a stock crash, though.
Greg |
