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Technology Stocks : CAWS - Wireless Cable (New and Improved)
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To: .com who wrote (364)11/19/1996 6:04:00 PM
From: Malcolm Boyd   of 5812
 
Hi Scott,

"As you know, the pick is important, but not as important as knowing when to sell"

Exactly. Picking a winning option position is only half the battle.
To give you an example about 2 weeks ago I bought some USRX Dec 75 call options for 1 11/16. About 5 days later the bid (for a very brief time granted) peaked at 3 3/4. Now, that's not a bad return I'm sure you'll agree. The problem is I was reluctant to sell because I didn't want to miss out on any more profits if the stock continued its meteoric rise. Greed, I think you would call it. During the same price the stock price rose from 60 1/2 to 70. Now? The stock has settled back around 66,(having touched the 64's) the option has returned to a bid of around 1 7/16 and I'm left feeling like a numpty.
Selling is without doubt the hardest skill to master in trading.
Good luck,

MJ.
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