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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: Terry Maloney who wrote (73073)	1/7/2000 8:30:00 PM
From: Knighty Tin	Respond to of 132070

Terry, Unfortunately, every option situation is different. It depends upon the liquidity of the issue as to how cute you can be. For example, I played cutesy with the guys on TBH and TMX today and got filled on 5 puts between them. <g> They just didn't have any customer order flow, so there was no reason to stretch a little for my business. Also, it depends on how much you want the piece to trade now rather than later. I find that on straight buys and sells, I get better fills because I am not in a hurry, while I tend to get snookered on my rolls.

To: Terry Maloney who wrote (73073)	1/8/2000 9:18:00 AM
From: re3	Respond to of 132070

Terry, while i was cheesed off, i look at my situation this way... i bought the xom jan 85's...the stock was about 85 3/8 when i wanted to sell the calls...expiration is in two weeks...so at two dollars, if xom stays right at 85 and closes there, my options deteriorate at twenty cents a day x 10 days = 2 bucks...so, i figured i better not waffle or worry about the spread, just avoid the risk of my gains evaporating. i'm laughing here anyway because i figured xom was a good play due either to the y2k factor or that index funds would be bought like crazy this week...meanwhile neither happened, but joe six pack seemed to want cyclicals this week. i gave joe what he wanted, my calls ! i should have entered a sell at 2 and thus saved myself the 1/8th, but sometimes we must look at the bigger picture and getting snookered for the eighths sometimes is a cost of this game. having said that i was considering more br or initiating a position in unocal with the money from the calls. having said that, would Michael or anyone else comment on whether they'd put new $ into either of those at current prices... thanks ike