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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Diamond Jim who wrote (8611)7/15/1999 8:39:00 AM
From: Wolverine  Read Replies (1) | Respond to of 21876
 
Good point Diamond. I sold some LU July 70 calls and expect them to be exercised next Monday. Fortunately, the shares are in my IRA account so I don't have to be concerned with income tax. However, if your shares are not in a tax sheltered account, you will have to pay 20% of you gain in income taxes versus letting LU appreciated tax free until you ultimately sell.



To: Diamond Jim who wrote (8611)7/15/1999 9:01:00 PM
From: John Meares  Respond to of 21876
 
The assumption I made was your belief in your price prediction.

If there is a doubt, then hold the stock, if you are firm in your 65 belief, sell the calls.

I happen to agree with you, and it seems like I will pay the price - I sold some Aug 80's and now the stock is 77+. There might be a correction by that time, but i won't count on it.


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