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Politics : Idea Of The Day

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To: Mark who wrote (14935)	11/21/1997 11:59:00 AM
From: Greg Jung	Read Replies (2) of 50167

Mark, re: IBM options Why be so complicated, and why avoid any rally payoffs? After today you will be free and clear, long Jan options,right? I don't understand why you are so concerned about lowering the premium paid, if stocks drop again you are out everything, anyway. If IBM goes to 112 (a 6% move) your options will be worth $9 but you won't be able to sell them without buying back the $7 Dec115 options. 1) Next friday maybe just sell options 1 hour before closing. Should be a good rally met by a sell-down on monday. 2) Stay long and uncovered and look for a big payoff day, sell at least half and buy some April puts near the end of January. Greg

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