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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Jean M. Gauthier who wrote (5183)	8/23/1999 4:52:00 PM
From: Wyätt Gwyön	Read Replies (1) of 54805

Jean, I will wait till Jan 2001 to exercise. There'd be no point in exercising in March 2000, since that would be giving away 9 months of time premium. The purpose of the 9-month rule, in my vague understanding, is to sell out the options and then reinvest the proceeds at a higher strike and later expiry (hopefully garnering more contracts in the process). I might do that with some of the options in my retirement account (where there are no tax consequences and where I can't use margin to cover the first $150 of price). But in my taxed account, I would hold them until close to expiry and exercise with margin (both to avoid the tax problem and to take advantage of margin availability). I paid various prices for the calls, buying them at different times. Last purchase was on the way down when Q took a dip down from 167 to 130s. I have been playing Q options since April, buying and selling at progressively higher strikes and later dates. Now I just want to "enjoy the ride"<g>. As to the total number, let's just say "portfolio" and "QCOM LEAPS" are one and the same in my case <g>. Greg

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