Continuing the IFMX discussion and more... Message Board

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Strategies & Market Trends : Continuing the IFMX discussion and more...

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To: Robert Graham who wrote (196)	9/22/1997 2:57:00 PM
From: Melissa McAuliffe	of 206

Bob, My oct's are at 10. I can't cover at 6 if the options aren't trading though you are right in that this would have been the time. I wrote them at 3/4. So if I can buy them back at 1/16 or so then I can wait and see what happens. Either rewrite or whatever. With respect to exiting the stock through options (which I haven't decided to do) I figure I will come out ahead if I write Oct 7 1/2's since that effectively would reduce my cost basis even more vs. selling outright at 7 1/2. Either way, if I can simply close my October position now I have several alternatives to think about. Quite honestly, I would be perfectly content if IFMX just stayed in the $9 range indefinitely and I would just continue to write the covered calls at 10. If one is able to do this for a year, it is the same as if the stock went to 18 (assuming the cost is around 9 which mine is). Melissa

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