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Strategies & Market Trends : Trader J's Inner Circle -- Ignore unavailable to you. Want to Upgrade?

To: furrfu who wrote (43390)	5/22/2001 6:24:37 PM
From: ajtj99	Respond to of 56535

Furrfu, I could have tripled, but I was a bit too impatient. When the stock was trading at 19.99, I looked at the June 17-1/2 calls and they were trading at only $0.20 above fair value at the bid. That told me that if the stock went to 21, I might stand a chance at getting no more for my calls than I was at 20. It turns out I completely discounted the Delta because it didn't seem to be applying, but on a 1-day move of 10% it does. Anyway, I could have sold for $1.80 instead of $1.10, but I made money and that is what I should be happy with. It's also quite hard to time things right when you're working your day job.