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To: Patherzen who wrote (6161)11/23/1999 7:12:00 PM
From: S. M. SAIFEE  Read Replies (1) | Respond to of 10027
 
It is very tempting to get in and out. But this one is high beta and still a value play. I rather keep long position and sell naked puts and covered call for very near term. So far I was exercised puts 40 percent of the time this of course includes drop from 50 to 22. Premiums are juicy. Puts writes were more profitable than calls write, had to cover calls at
large losses.



To: Patherzen who wrote (6161)11/23/1999 10:01:00 PM
From: Gary Korn  Read Replies (1) | Respond to of 10027
 
Patherzen,

To play the volatility, I bought shares at 43 and then sold the December 45 calls against the shares. That brought in an additional 4 points.

Come the third Friday of December, I'll either have sold the stock at an effective price of 49 or have bought the stock at an effective price of 39, which is about where I would begin to add anyway.

Gary Korn


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