HI Barry: I needed that "upgrade" <VBG> well I got out into april
puts today, the demand on them has not gotten to heavy yet, I don't
know about covering a short like that as I don't short sell, that
way..if I got in the money calls on something I think will go up,
then I play the momentume game but never hold the stock over an
hour or two, just skim the up and down of the day, to out right
short and hold would scare me. With AOL I limeted my risk with
puts, and when I got enough ahead hedged with calls, one goes
up the other goes down, but if a big drop comes the puts pay
off very big, and I can say the heck with what I gave for calls,
they got cheap today so I grabed my hedge..for feb..and took on
more puts in april..the hedge locks in my profit thus far in
feb..but also limits it, with one exception..if the bottom falls
out I'm in like flint, and I can hold onto my position right
up to ex-date with out tossing and turning in my sleep. <G>
The april puts are not hedged they are cheap 20s looking for
that home run. As I think the lawyers are going to slap AOL around
like a dead fish. She can't fight back like the tobaco cos..not
big enough, if she try they really kick her butt, they like to
win too u know.
Jim
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