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Strategies & Market Trends : Tech Stock Options

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To: IngotWeTrust who wrote (5261)	1/29/1997 2:12:00 PM
From: PHIL K.	of 58727

ole 49er, I was in some covered calls on IOM recently and got out before earnings were announced yesterday. I fared pretty well. 2 weeks ago bt IOM @ 17 sd Calls @ 1 15/16 yesterday bt back calls @ 2 3/8 sd IOM @ 18 3/4 What do you think?? IOM is doing nothing today even on good earnings. I have a question for you if you don't mind...... I am considering buy/write. stock @ 5 5/16 Bid on calls @ 1/2 10,000 shares bought...100 calls sold. (Commissions are negligible.) Question..When these calls are close to expiration (feb 22th) if the stock is trading at 15 5/16 , will the calls be at 5/16 or less with no time value left. Or is it your observation that the calls will be based on intrinsic value and still cost me 5/16 to buy back (if I decide to). My broker tells me that the calls will only be automatically exercised if they are 3/4 in the money.. Or Do you fell that because I have sold so many calls they are more likely to be called???????? Just looking for some info before I make the move..... Thx, Phil K. PS waiting for couple more weeks to do the naked calls........

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