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Pastimes : Play It On Paper- Clappy's Newbie Option Thread -- Ignore unavailable to you. Want to Upgrade?

To: Clappy who wrote (119)	8/2/2000 11:05:21 PM
From: Perry Ganz	Respond to of 176

Clap on If I'm reading you right, you are hedging your JDSU common long shares by short selling some calls, getting the cash upfront, and then using it to buy puts at no cost to you. Correct? You got it except they paid me $2 per share to do this Is it possible that you will get assigned any of those shares or does that only happen if you sold puts? You get assigned shares or "put to" when you sell puts I have sold puts maybe 10 times and been put to once covered calls they could come and buy your stock from you but I have problably sold calls 100 times and never had my stock called away. So on this trade no assignment is possible but my stock could be called away (not likely though) Perry

To: Clappy who wrote (119)	8/3/2000 10:31:38 PM
From: lindelgs	Read Replies (1) \| Respond to of 176

Hi Clappy- Got my STLW calls the other day, Sept 45's @ $3.75, I put in a GTC sell order to exit them at $5 (30% up, I'll take it) I may rethink this over the weekend, but I'm leaving the order in for tomorrow anyway because I'll be "out and about". I'm also putting in my first low-ball order in for Rambus options, going for Jan 100's at $8.75. I will get started with a large order of......one! Hey! You gotta start that position ;) somewhere I guess! Now for some backreading... Legs