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Technology Stocks : Long Term Investors' Outpost -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (557)	5/30/2003 11:39:53 AM
From: alanrs	Read Replies (1) \| Respond to of 562

I've been holding a middle ground, selling calls one at a time slightly further out of the money than I would have last month. For instance, today I sold the RMBS July 22.50 and the CREE July 30. As always, I only do options when I would be happy with the outcome no matter how it turns out. This has continued to work well. While QCOM has accounted for roughly 1/2 of my total options gains in the last 2.5 years, I don't find the premiums there very attractive and am short one June 27.50 put and one June 35 call. I really would like to sell Qcom 45's or 50's not too many months out, but there really isn't anything at those prices. The shares I have from around todays prices and below I consider "in the vault" and am unwilling to risk. I took a fairly substantial loss buying options in Aug. 2001 as part of a spread attempt and see no reason to tempt fate in that way again as long as selling them is working. Regards ARS