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Technology Stocks : Gemstar Intl (GMST) -- Ignore unavailable to you. Want to Upgrade?

To: Ender who wrote (1153)	12/22/1999 9:54:00 PM
From: William	Respond to of 6516

My guess would be to sell tomorrow while the news is fresh and there is still some time premium left in the call. Should be a nice profit. The longer you wait, the more time premium you give up. You could look at the bid/ask, and place a limit order above the market, and hope it comes to you. It could very well do so. BWDIK. William

To: Ender who wrote (1153)	12/22/1999 10:17:00 PM
From: Poet	Respond to of 6516

Hi Ender, You've already gotten a good response and I agree that tomorrow would be a good time to sell and pocket your profit. When you buy calls that have little time until expiration, the erosion of their value should make you trade them nimbly. In a case like this, where you buy calls and great news is announced after the close, keep your eye on the profit. Personally, I'd sell at the open and watch the trading tomorrow. If GMST retraces to the mid-sixties again, buy half the amount of calls (using your profit) of the next month further out. This way you're still in the game, now using "free" money, and have reduced time decay by moving the calls further out. (This is called "rolling out")