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Technology Stocks : America On-Line: will it survive ...?
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To: Raymond who wrote (3058)5/10/1997 1:19:00 PM
From: WryBoy   of 13594
 
Raymond: That is truly one of the worst horror stories I have
ever read....You should have locked in your windfall profits
after that one-day 45% jump in the underlying. I assume you
didn't sell them outright because you anticipated further gains,
but you should have immediately bought at-, or slightly out-
of-the-money puts, same expiriation as your calls, in order
to lock in most of your profit. You can then ride the position
happily to expiration, hoping for further upside gains and rolling
up the protective puts if/as the stock climbs.

Wow, what a tale.

Phil

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