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Technology Stocks : Identix (IDNX)
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To: Elvis Jones who wrote (5577)12/5/1997 5:31:00 PM
From: Rob C.  Read Replies (2) of 26039
 
Duke,

I indeed sold 20 Dec 10 calls at 1 11/16's. Still long 2,500 shares. Another buy recommendation by H & Q today. I feel that because there is no premium in the Dec 12.5's we will head lower on Monday and Tueday. If the stock starts moving up I can buy the calls back. If it pulls back sharply next week I buy the calls back at an even cheaper price. Right now they are 1 1/4 by 1 1/2....I am already ahead 3/16's . I had an open order to sell the 20 at 1 11/16's and they got scooped up real quick. I feel that I am hedging my position. I have tried to hit a homer too many times on IDX not to make money on the stock. I sincerely hope that the stock continues to go higher. Being long 4,500 would be great, but making the money on selling the calls, while still being long 2,500 is a very nice position to be in. I can't really lose, I can earn and the call premiums help me pay the bills.

Regards,

Rob
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