Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Elmer who wrote (121045)	7/27/2000 11:33:40 AM
From: TimF	Read Replies (1) of 1573758

Ted - I'm starting to get a little nervous about my short August $85 & $75 puts. You could roll them out to September or October. That doesn't always work to well though. Recently I sold an in the money covered call against one of my smaller positions and the stock jumped after I sold the call. I thought I would just by back the call with the money from selling a later call, but even swapping the short July call for a short Janurary call didn't get me much more then what the commission would have been on the transaction and there was no LEAPs for this stock (actually it was two stocks the call gave rights to 100 SGI and 13 MIPSB) so I wound up having stock worth over $1000 called away for $500. Combining the price I got for the stock with the price for the call resulted in a small profit but I would have done much better if I didn't sell the call. However with AMD calls and puts I think you can keep rolling them for now. Tim

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