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Politics : Idea Of The Day

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To: IQBAL LATIF who wrote (14863)	11/20/1997 1:00:00 PM
From: Mark	Read Replies (1) of 50167

Ike et al. re: IBM/INTC Shorting against long calls: I am long IBM JAN 110 at 2 5/8 against which I sold NOV 110 at 1/2 which will expire (reduced cost to 2 1/8). Would you: a. sell DEC 110 against them for 1 15/16 now & hope either it doesn't reach 110 by dec expiry or to buy them back for near zip sometime before then; or b. sell DEC 115 against them now for about 3/4; or c. Sell the long calls (Jan) for 3 1/2 and roll into april 110 (7+), 115 (5+) or 120 (3 3/4) and start writing again? I also have INTC JAN 90 at 2 3/8 against which I have written NOV 90 for 1/2 and wonder the same as above with IBM. Anyone have any words of wisdom? I've just started trying this more conservative approach and would appreciate any insights. All the best, mark

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