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Technology Stocks : Gigoptix, Inc.

GIG 10.58

-1.1%

2:09 PM EST

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To: lexi2004 who wrote (70)	4/25/2007 1:09:54 PM
From: MJ	Read Replies (2) of 148

Lexie, glad to see you with your charts on this thread. Reg. Options The last option I wrote on LMRA was on the Sept. 5's QPHIA at $0.85 ---the option rallied to above a $ closed yesterday at $1.15. And, is down to $0.75 today on the bid side. I am now positive on the option. These are the Sept. 5's. This gives me downside protection on LMRA to low 4's. If the Sept. 5's were to go lower, I would buy to cover and free up those shares for trading or write another option. I don't like to write call's that are that far out-----however if one wants to keep a stock then the call writing gives some downside protection. If the option declines, then one buys to cover and pockets a few dollars and still has the stock to write new calls on. Not on margin so I write calls and buy to cover. (Lost a lot on margin with margin calls and don't want to go there again.) This market is so fickle first one stock moves and then another. As soon as I take a small profit that is when the big moves often come. mj

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