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To: waverider who wrote (56455)12/23/1999 3:17:00 PM
From: Uncle Frank  Read Replies (2) | Respond to of 152472
 
>> Asked my broker about all this roll over stuff. Ya gotta sell before you can buy.

Rick, your broker gave you bum information. You can specify a simultaneous buy&sell transaction (roll out), and you can set a limit order based on a spread between the "ask" on the buy side, and the "bid" on the sell side. Usually they restrict this technique to customers rolling out >10 contracts, as it takes active involvement from the options trader on the floor of the chosen exchange.

I'd suggest you get a new broker. Your current one either doesn't tell the truth, or is uninformed. Either way he is of no use to you.

uf