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Technology Stocks : Cymer (CYMI)
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To: Curlton Latts who wrote (23767)12/10/1999 10:27:00 AM
From: Ira Player  Read Replies (1) of 25960
 
Sorry Curlton, but I was BUYING when the 675 shares were executed. I was covering a previous short. I bought the rest later at 41 1/2.

No, I was not upset about the partial execution. I wanted to BUY the shares. I was upset that they did not REPORT to me that the partial has been executed. While in this case it would have made no difference, I would have canceled the buy at 41 and increase my bid, it may make a difference under other circumstances. The execution was 10 minutes old and they didn't let me know until after I had cancelled what I thought was a fully unexecuted order (no commission).

As for naked puts verses covered calls -- it depends on your starting circumstances and where you believe the price will be at expiration. If you OWN the stock and believe the price will be below the strike price, sell the call. If you own the stock or not and you belive the price will be above the strike and are willing to own more (some), sell the put. P/L performance is the same, only the details of the breakeven point are different.

Please read more carefully before condemning someone elses decisions and actions or using them as a bad example.

As the head cheerleader of the CYMI cult, you owe your followers more attention to detail.

Ira
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