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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Hepps who wrote (4559)	11/15/2006 12:50:32 PM
From: Uncle Frank	Read Replies (1) of 5205

What to do? I'm short the November ntap 37.50 put, which expires on Friday. The stock is trading above the strike price, and in a "normal month", there's a good chance the options would expire worthless. At worst, I'll have the stock put to me at a cost of 37.50 minus the premium of 1.50. But ntap announces tonight, and imho they are priced for perfection. It pains me to pay .95 for an out-of-the-money option with only 2 days left on it, but I think it would be prudent to close the position now :-(. duf

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