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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Jill who wrote (7181)	10/10/2000 11:20:59 PM
From: RR	Respond to of 65232

Hi Jill: It is not uncommon for me to turn my entire position over several times before expiration. I tend to take small profits over and over and over again. I've done this with JDSU for months and months. I am not a day trader but I do tend to move those options weekly. Consequently, I often will close an entire position out over several days, like before earnings, hold, then re-enter. You know the routine. Also, as I've reported on here before in answer to a question, if I have let's say 100 contracts, I may trade on a regular basis the ups/downs or intraday swings on maybe 25-30 contracts out of that lot, but on average would have a position of 100 contracts. So, in answer to your question, the time premium really is not necessarily a factor I consider when I close a position and re-enter. I am focusing on the potential for movement. Remember, too, that I usually only do ITM calls. Rick