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Biotech / Medical : Biotech Valuation -- Ignore unavailable to you. Want to Upgrade?

To: tom pope who wrote (13348)	10/6/2004 3:10:58 PM
From: Sam Citron	Read Replies (2) \| Respond to of 52153

Tom, I have never sold naked calls or naked puts except in those instances where I would consider myself lucky to obtain the position (long or short) at the given strike price. I can only remember two situations in which I have had to eat shares, both times after selling naked puts. Once was Intel and the other was Elan. Intel was the first time and I lost some money. It taught me the lesson of patience. With Elan I was more patient and I made a little money but still sold too soon. I currently have several open naked put sale positions as well as some GTC orders for more and am confident it will not be the last time I will eat some stock as a result. The next time this happns I plan to stay in the boat and continue to use options strategies to manage whatever position I happen to find myself in. Sam