Applied Micro Circuits Corp (AMCC) Message Board

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Technology Stocks : Applied Micro Circuits Corp (AMCC)

AMCC 8.450

0.0%

Feb 3 4:00 PM EST

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To: Trader Dave who wrote (269)	12/22/1999 8:46:00 AM
From: SJS	Read Replies (1) of 1805

Discovered? NO. Continued to be disgusted by? Yes. <g> This is why I let most of my options expire worthless, or even non-worthless. Paying the spread to get out is adding insult to injury. I'd rather get assigned stock via being short puts and then sell the stock vs paying 1/4 spread. It's quite a bit cheaper to do it via being assigned. Don't write CC's is the now-obvious lesson for 1999 because of the bull market. From the getgo..I sold puts very effectively, with an overall 66% "expiration at 0" rate. I should have also bought calls, but rarely EVER buy options. I much prefer to sell them. Next year however, might be a good CC year, especially after Q1 ends.... My horror story is writing 155 calls on JDSU for November. Then Soros and everybody and their brother started buying it.... Needless to say, I've stopped that for now, too!! TD....The sooner they get the option market cleaned up, the more business they will attract. Those spreads are way out of control. Have a good Holiday... Steve

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