Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: tejek who wrote (120973)	7/26/2000 4:34:43 PM
From: TimF	Read Replies (1) of 1585088

In addition to closing some small positions (for a profit in a down market and near the high for the day on all three sales, much better then my previous accomplishment of selling for a loss in an up market). And sold a Jan 100. I bought a Jan 85. The net cost on the spread was only 3 3/4 with a potential (and in my opinion likely) gain of 15. I also bought 20 more shares for my retirement account. Selling the small positions decreased my margin. My margin percentage is in my opinion still a bit too high but since the options aren't marginable the actual percentage of my position has been reduced by selling stock and buying January options for less then the cost of the stock. My chances of facing a margin call are now reduced without reducing my chance to profit from a rise in AMD's price. The downside is I am less deversified and If AMD stays down all year I will take a loss. If AMD crashes from here (something I consider unlikely) I will probably sell all my shares and buy back the short '03 120 Leap call. I might buy an '02 call or, if my options privileges get increased by then, sell a put or 2. Tim

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