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Non-Tech : Tyco International Limited (TYC)
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To: TigerPaw who wrote (1112)12/17/1999 2:29:00 PM
From: Chuzzlewit  Read Replies (4) of 3770
 
TP,

I should have included one caution: sell puts only in companies you would be comfortable holding for the long term. Viewed this way, you essentially have a limit order and are paid for the privilege.

Your point about a price drop resonates with me, having sold Jan 47 1/2s on TYC when the price of the stock was $39. I am currently debating three strategies:

1. Take a short-term loss this year and re-establish my position after the wash-sale rule expires;

2. Hold my position through options expiration and allow the stock to be put to me at an effective price of $38;

3. Hold my position until the day of expirey and roll out my position for say an additional six months.

I am thinking that the last strategy may be the best, since I am quite bullish on the company.

Any thoughts?

TTFN,
CTC
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