Lucent Technologies (LU) Message Board

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Technology Stocks : Lucent Technologies (LU)

LU 2.615

+1.4%

Dec 18 3:59 PM EST

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To: Haim R. Branisteanu who wrote (6403)	2/23/1999 8:31:00 AM
From: Ted Downs	Read Replies (2) of 21876

Haim, Monday, Feb 22 1999 1:32PM ET Reply # of 6414 Sold LUCB at 4 1/4 will buy it back at 2 to 2 1/2 cover at 4 3/4. the option depreciates at around 1/8 per day for steady prices of LU. Looks like the rally will continue and I would wager a guess that you sold naked calls. If so you probably won't get to cover at 4 3/4 before the option price jumps to 5-6. If so where are you going to cover? Now, of course if you wrote the calls at 110 strike you shouldn't have to worry, but apparently you didn't write them or you wouldn't have said you would cover at 4 3/4. Looks like a poor position imho. Good Luck Ted

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