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Strategies & Market Trends : Options
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To: Nichols who wrote (636)1/4/2000 3:06:00 PM
From: Ritch  Read Replies (1) of 8096
 
Just finished rolling my Jan 100's up to Jan 2001 160's (thanks V). Got 12% more contracts and pocketed more than enough to pay off my existing margin balance. (Could have bought 25% more, but wanted to get off of margin.)

I thought the 160 Leaps were relatively cheap for ITM Calls. This should result in more leverage and a lot more time.
Had to take a big tax hit on the 100's though. :(

Bought at 8 1/2 and sold at 65 5/8. I am trying to tell myself that it is never bad to take profits! :)

This is another reason I am buying leaps this time. You can hold them for a year if need be and get Long Term Cap Gains.

OK - Now the stock can go back up. I'm done buying for the day!

Ritch
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