Ascend Communications (ASND) Message Board

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Technology Stocks : Ascend Communications (ASND)

ASND 212.00

-0.6%

3:59 PM EST

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To: John Meares who wrote (57129)	11/12/1998 10:02:00 PM
From: Gary Wisdom	Read Replies (1) of 61433

OT John, re: selling the leaps John, If Ascend gets bought at $65, you made $12 on the stock (if you bought at $53), right? You sold the calls at $17. At a buyout of $65, they're now worth $10. You made an additional $7 from the calls. At the time of the buyout, all time premium is lost on those. They are exercised and disappear. Of course, you can sell the stock and buy the calls back at any time. But, IMO, that would be dumb.

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