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

To: andyama who wrote (27323)	12/27/2000 2:24:28 PM
From: Bob Pittsfield	Respond to of 65232

Hi Andy, Excellent point and one I should have covered considering the number of lurkers etc. Once you are out of the stock and still have the naked calls, your loss is theoretically unlimited if the stock price should rise. I usually use a mental stop on the stock which avoids this situation but if I have to go away from the computer for any length of time and can't keep touch by phone or otherwise, I will use a stop but never for more than an hour or two. Still a risk but one I find acceptable if uncomfortable.<gg> Some brokers will allow stops on the options but mine, (Fido) does not. Check with your broker. Hope this clears it up and good luck. Bob