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Strategies & Market Trends : Options
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To: Jill who wrote (170)12/28/1999 9:54:00 AM
From: RocketMan  Read Replies (2) of 8096
 
Jill, I just sold 150 shares of GMST and bought two May 60 calls. I'm flying by the seat of my pants here, been learning about leaps (just got the Roth book), and buying them on Q, but since GMST has no leaps, and the May 60's seemed so cheap, I bought them and freed up some cash. Used the money I freed up to buy a few more Q common.

Unlike the leaps, the May GMST calls will begin eroding much faster, so the question will be when to exercise them, assuming price appreciation on GMST over the next couple of earning announcements. Let's hope we all do this right.
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