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

To: grinder965 who wrote (85687)	11/20/2000 1:52:38 PM
From: Knighty Tin	Respond to of 132070

Mike, I would convert it to a bull spread. If, for example, you bought $50 strike price calls and the stock is now $80, I would short either $55 or $45 strike price calls against the position. Same expiration day. Your broker should not ask for more margin, but they probably will, as each position is considered separate, though we know they are not. I don't see any way around that. On expiration day, unwind the spread. Don't mess with exercizes on either side.