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To: Elmer who wrote (80067)	5/14/2002 6:49:05 PM
From: bacchus_ii	Read Replies (1) \| Respond to of 275872

RE:" it another month to come back to it's natural level, < $12.50." Intellebee view point, of course... >$20.00 would be more Natural Gottfried

To: Elmer who wrote (80067)	5/14/2002 10:11:23 PM
From: Joe NYC	Read Replies (2) \| Respond to of 275872

Elmer, even if you end up with 50 cents after commissions by rolling, that's still 4.25% for a month! Plus that gives it another month to come back to it's natural level, < $12.50. I see your point. I just opened the position today, and I thought about going with June expiration, but I got a little greedy about .30 in 3 days. If the stock departs from the 12.50 range on Monday, your advise would have been better. Somehow, I prefer expiration to rolling. I am trading mostly in a tax-free account, so stock trade at the assignment is not a problem. To roll now, when there are 3 trading days left, stock at 12.40, I would have to pay .45 of pure premium (I don't want to buy it, I want to sell it). If nothing changes, I can "roll" on Monday without paying the .45 ask, and can pocket the entire June premium, now at .90, if I decide to do it (and I am still in possession of the shares). There is a risk that the stock will move so that I won't be able to do it, but there is slightly higher pay-off if I am able to do it. Joe