COMS & the Ghost of USRX w/ other STUFF Message Board

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Technology Stocks : COMS & the Ghost of USRX w/ other STUFF

COMS 0.00130

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Nov 7 11:47 AM EST

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To: Dwight E. Karlsen who wrote (5221)	9/13/1997 12:39:00 AM
From: David Lawrence	of 22053

>>Precious few people have the stamina and guts to actually hold a long-term option for the long-term. I actually let my August USRX calls expire last month. Bought them at the beginning of March for $560 per contract (they wound up being 175 COMS shares each). When they expired, I collected $2822 per contract. I only had 10 contracts, which were six months 'til expiration when I bought them. The profit more than made up for my 117 contracts that expired worthless back in Feb, Mar, April and May. Those ranged anywhere from 2 hour to 2 month lives when I bought them. The moral of the story? If you want to leverage a long position by buying calls, go for long term in- or near-the money options. That way, if something goes wrong (like a take-under), you have a chance at recovery.

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