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Technology Stocks : JDS Uniphase (JDSU)
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To: Jimbo who wrote (4941)1/22/2000 11:41:00 PM
From: Dr. David Gleitman  Read Replies (3) of 24042
 
Good Morning Jimbo:

I have been burnt a number of times selling short term calls. My personal goal was to make extra income selling calls about a week before options expiration. My goal was to have enough stocks so that the extra income that would be generated monthly would place me in a postion where I would not have to practice any more (with managed care being what it is today). I sold my january calls as far out of the money as possible for JDSU, JNPR, CHINA and others. Got taken out on most of my calls. It was either jet lag or exhaustion (watching postions going way into the money can be hazardous to your fiscal health) which prevented me from doing the right thing and that was to roll my calls into February. I guess now I have to wait for a market correction/interest fears/ February pullback to buy more shares.

I think I am going to codify a set of rules for myself on options trading.

David
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