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Non-Tech : The Critical Investing Workshop
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To: Voltaire who wrote (5627)2/29/2000 9:20:00 AM
From: Dr. David Gleitman  Read Replies (1) of 35685
 
Morning V:

To elaborate on rolling a call, I recently sold cc 4 days prior to options expiration on BRCM and JNPR, both had the "hell of a nerve" to shoot past the strike price in three days time. I found that as one approaches the end of trading on friday (3:30 or later or friday)you can get a better rollover,as the value of the option that is about to expire in 30 minutes or less presents with the smallest amount of time value left. I also learned not to rely on electonic trading at that time. It's better to call the broker and have them roll it for you. This way you know that you have it. It's an amazing adrenalin rush (yeah, I know, call me kinky, if you will), especially when the computers were down at schwab and the brokers didn't even know themselves if the trade went though or not. The point is, that I sold the feb 180 calls on brcm and it was trading at about 188, I rolled them into the march 200's (the highest value available at the time). It cost me about $9 to buy back the feb calls and got $11 1/18 to roll them into the March 200. What a country! I did even better with JDSU, I sold the Feb 230 CC, when it was trading at about 238. I rolled the calls from the Feb 230's into the March 270's and got an additional $7.00 extra premium for the time.

Who need's work!?!

David
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