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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: c130jdriver who wrote (74496)	11/8/2007 10:14:30 PM
From: RetiredNow	Read Replies (1) \| Respond to of 77400

Your guess is as good as any. Who would have guessed that Cisco stock would tank after such a stellar earnings announcement? I didn't. I do believe that the downside risk at this point is close to nil. The stock market is down in anticipation of a couple to several soft quarters ahead of us. Fast forward 3-6 months and this stock will be much higher. As for options, can't help you there. Elroy knows alot about them, though.

To: c130jdriver who wrote (74496)	11/8/2007 11:28:10 PM
From: Elroy	Respond to of 77400

My question is to you, being that there is only 9 days til expiration, do I middle it and buy more at .08 driving my cost basis down or do i take the horrible loss. 1. Check your commission schedule, which often includes a fee per contract, so if you buy at .08 it might actually be .095 when you include the commission, and if you're able to sell at $0.10, it might actually be $0.085 when you include the commission. Commissions hit big on the super cheap option contracts. 2. And to answer your question, no, take your loss. You're only going to make money on the $32.50 if CSCO closes around $32.70 in 6 days of trading. That would be a massive move considering yesterday. I shorted $32.50 Nov calls which I will sell you (commission free!) for 8 cents each if you want!