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Strategies & Market Trends : Gorilla and King Portfolio Candidates

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To: Uncle Frank who wrote (6302)	9/13/1999 4:07:00 PM
From: Jill	Read Replies (1) of 54805

Okay, here's what I did today, because I am not able/willing to be put more Qualcomm shares: bought back Sept 155 & 160 puts for MORE than I paid almost sold Oct 145s but then decided to sell Jan 150, which in terms of premiums, if everything works out, allows me to come out ahead in January in spite of having to buy back premiums right now for more than I paid. Theoeretical paper loss right now. I prefer selling puts to buying calls because one can always reposition and wait out volatility. But it reminds me of chess, where one has to play out various strategies and who knows what's best. When DELL got slammed, I had leaps puts that for a long while were just idling at the price I got for them, but since they were 01's, they slowly recovered. LEAPS are nice that way. Now they are worth about half of what I got for them. I'm a bit tired!

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