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Strategies & Market Trends : Continuing the IFMX discussion and more...
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To: Robert Graham who wrote (133)9/4/1997 12:50:00 PM
From: Melissa McAuliffe   of 206
 
Bob,
I think what might be happening here is that alot of people who held this stock when it dropped from 65 in July may just be getting out at 60. I expected this to happen at 65 but understand that round numbers are where it typically happens. The only concern I have here is that I bought the sep calls at 2 3/4. I actually considered closing this position at a $66 (commission) loss but I am going to wait until the end of the day before deciding. The trading range today is much smaller than the last several days which may also indicate a temporary price peak. But I will continue to watch what happens today though I do believe the stock is moving up overall..the only issue being timing. Since this is my first short term option purchase I am now seeing why this is so much more risky and in hindsight might have been better with the Octobers. Since you are newer to this particuar stock than I am and you got in earlier they probably make more sense for you. But we'll see how it goes.
Melissa
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