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Strategies & Market Trends : Continuing the IFMX discussion and more...
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To: Melissa McAuliffe who wrote (195)9/22/1997 2:36:00 PM
From: Robert Graham   of 206
 
Exiting IFMX as a shorter term investment is a good idea. IFMX will reward the investor over the long term. IMO this is a bad short to intermediate term investment. How much has your Oct calls dropped compared to the price at which you wrote the calls? What was the strike price?

If you can clear some money by buying it back, then do so. The trick here is to buy back on the dips and sell at or near the peaks. If you are using the option to exit a stock, then write go ahead and write the Oct 7 1/2 option. Better yet, sell the stock outright for your 1 point (about 15%) profit and move on. Otherwise, I would wait for the price to move up some. The best time to have covered would of been at 6 1/2. This was when it hit a solid support. But hindsight is always 20/20.

Bob Graham
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