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

To: PAL who wrote (5589)	3/27/2000 11:50:00 AM
From: SecularBull	Respond to of 8096

Perhaps taking taxman's advice would've saved you some money? LoF

To: PAL who wrote (5589)	3/27/2000 1:31:00 PM
From: Gregory	Read Replies (2) \| Respond to of 8096

Thanks a lot. I am getting educated on options. Some of it by following what you are suggesting. I have read your suggestion on repairing covered call situation when stock goes away from you. I have a similar situation, but with CSCO. I have sold 2 covered calls on CSCO. Strike=May 67 1/2. Notice, that it is May, not April. Maybe this was the mistake that I have written it too far ahead? My thinking at the time I have sold it was: "I will have more time to fix problem if it develops. At the same time if the stock drops, I will close the covered calls; so it really does not matter that it is next month, and not April." I did not know this stock before, that it goes like crazy up. Anyway; I have sold 2 covered calls on CSCO. Strike=May 67 1/2. Sold at 7 1/4. Worth today $15 3/8. CSCO goes away real fast. It is 81 now. I would not really want to loose the stock, specially at the price that is $13 below the current price. Would you try to repair the situation like this now, or would you rather wait till the time is more close to expiration?

To: PAL who wrote (5589)	3/28/2000 8:38:00 PM
From: Poet	Read Replies (1) \| Respond to of 8096

PAL, Thanks so much for your thoughtful response about the QCOM cc's. I'm at the options conference in Denver and hence not trading, but just had to pop in on SI and tell you all that Option Investor runs a very professional and informative conference. It's already provided me with enough skill-honing to have paid for the trip and there are three more days to go. I'll be back on Friday night and will catch up this weekend. My apologies to all who've written me PM's that are as yet unanswered.