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To: Dr. David Gleitman who wrote (27930)	8/5/2000 2:34:26 AM
From: Boplicity	Respond to of 35685

baa hum berg. Greg

To: Dr. David Gleitman who wrote (27930)	8/5/2000 2:09:12 PM
From: mepci	Read Replies (3) \| Respond to of 35685

David: I read the posting from wsj about you, I also read some of your posts here. Looks like you are still making money, which is good to know. You do seem to follow some no-nos of option trading. One statistic is that the majority of option buyers lose money. I will read some more of your posts to see what else I can come up with. Four weeks ago You had a question about the buyer of your covered calls exercising the calls. And that they are covered by the LEAPs you own. Your question was do you have to exercise the LEAPs to cover the exercise. No, you don't have to. When the option was exercised your account will show a short the next day. You can buy the stock on margin to cover it. If you don't have enough money, one ST way of handling is to sell a LEAP just above the strike price of your LEAP, if that money is enough to buy the stock in margin. If all these don't work out then either you have to sell the LEAP you own, or carry the stock as a short(with short stock margin requirement). I hope this answers your qs. Even then it may be too late to help you in that particular situation. As per me I am a CEO of my small computer consulting company. I have been dabbling in futures, and options since 1969 in a very small scale (except the amount of commissions I pay). Out of that I learned some lessons, and I follow them religiously. My holdings are primarily in Dell, and I hedge it by selling LEAP calls. I am mostly on Dell board. I found about this board while searching for your posts. I will be visiting here time to time.