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Non-Tech : OAKLEY- NYSE:OO
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To: grasshopper who wrote (993)8/22/1997 7:55:00 PM
From: Ray Jahn   of 1383
 
Grasshopper, If you sold the 12.50's and the price moves above that prior to expiration and then does not trade above 12.50 on expiration
you probably will not get called out. Last month I wrote some Cyrix
22.50 calls , the price went to 27+ and stayed there for most of the month, I got called out on expiration, but if it would have moved below that strike price I wouldn't have. The only difference in your situation is the large position , I'm not sure if that will affect when you will be called out. If the price of the options you sold lose 75 to 80 percent of their value consider buying them back to close the positon,
you still make a nice profit and the stock is clear to either sell on a pop up or write more calls at a better price. What strike price did you sell?
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