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To: Jeffrey Beckman who wrote (166626)	5/18/2002 3:56:59 PM
From: KeepItSimple	Respond to of 436258

It is a case by case issue, really. Mostly only 1 to 1 and 1/2 months out when i initiate a position. For instance I played the two-week-from-epiry May CSCO puts and calls, since I knew that the earnings news would come before and expiry AND likely have a big effect one way or the other on the stock. Why try to guess the direction? I straddled, and the next day my calls opened up around 280%, while my puts went down about 90%. I'll take that performance any day. Did the same thing with amat and their earnings last week. Straddle, wait for the pop, then dump the winning "side" of the straddle. I guess the time 'til expiry is a personal thing. Frankly, I can't stand the stress of options within 1 week of expiry- the premium will evaporate in a HEARTBEAT if it goes against you. I always roll everything over into the next month if there are 5 or less trading days to go. ----------------------- KIS, Sounds interesting. Just as an example, I see QCOM around 32.5. Do you use the near-term options, or further out?