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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: Poet who wrote (126)	12/27/1999 8:16:00 PM
From: Dealer	Read Replies (2) \| Respond to of 8096

Jill and Poet; Last week I had $2400 left over in petty cash after purchasing QCOM calls. GSTRF Bought Jan 01 40's for 3 3/4 today's closed 9 5/8 todays high was 13 5/8. I do buy out of the money if I feel like the stock will support the price "soon". I check out the delta and opening interest. I purchased the GSTRF Jan 02 35's today....... Was not in QCOM until Nov 1, this year. Don't want that to happen with Globalstar. BTW, I have a friend that works (in office) for QCOM and I called her about 6 weeks ago to tell her how well I was doing in QCOM, and to be honest to see if she would let her tongue slip something. Not likely. (I guess I need to call her again..) :-)) Anyway she is not one to offer inside info. The one remark she made to me that haunted me since then was "Have you looked at Globalstar?" I like sitting on a stock until it hatches so I hadn't paid any attention to anything but QCOM until last week when I had the petty cash. Let's see (GSTRF) that was over 200% in a week. More! More! More! I have done very well rolling up. QCOM...I had several contracts of April 400's and after a couple of weeks I rolled them out to the April 500's (increasing my contracts by 81%). This action alone has given me 13% more than I would have had by staying in the 400's. Will stay in April 500's until I can roll up getting at least 1 1/2 times as many contracts. Sure I will have to pay taxes but I don't mind paying my fair share if I am making more money. I do think these situations are unusual and plan to go to covered calls when the party is over. "Welcome! Come right in! The party is just getting underway. May I get you a drink and an appetizer?" Voltaire is my mentor and the one I respect when it comes to options. I am also enjoying your board and comments. Love your board! Busy! Busy! Busy! QUESTION: If you were selling calls. What would you do? In the Money, Out of the Money or At the Money. I want to be ready to do the right thing when the time comes. Your opinion is appreciated. dealer