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Strategies & Market Trends : Swing Trading With Options
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To: underdog430 who wrote (23)7/30/2001 3:36:21 PM
From: tuck  Read Replies (1) of 88
 
Mark,

As I suggested, I am legging out of this one. I sold the calls for half a buck. A little early: AVIR bounced higher than I would have guessed. The best bid I saw was around $13.10 for the put. It turns out that the time premium is gone, so the delta is effectively almost 1, and I can wait until expiration for the stock to weaken a bit more and cash in the puts. A couple of bad days for the market could easily do that.

I needed AVIR @ $25 to break even, and that is still pretty much so.

Cheers, Tuck
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