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Non-Tech : Invest / LTD
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To: Thean who wrote (11560)1/21/2000 4:17:00 PM
From: SJS  Read Replies (1) of 14427
 
Thean,

I bought back my GNSS calls for 3/8. Lucky me. It tanked near the end of the day. So....here's an implementation of my "cushion" put write approach. Don't get as much, but have that margin of safety.

I wrote out of the money PUTS for that extra cushion. I got 1 5/8. I bought them back for 3/8.

I think that that extra cushion writing out of the money puts allowed me to take a profit even with the tanking GNSS had. Of course, had it stay at 15, we both would have been underwater.

As for PMCS, ......I think I win that virtual bet. Agree?

I spoke with Fidelity about my trade. They indicated there was no violation at all of any rules.

Regards,

Steve
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