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Technology Stocks : BORL: Time to BUY! -- Ignore unavailable to you. Want to Upgrade?

To: Jack Gibson who wrote (7077)	11/4/1997 4:44:00 PM
From: Ghassan I. Ghandour	Respond to of 10836

Jack - Nice action in BORL, yesterday and today. It bodes well for your Nov. options. I strongly agree with you that discipline is the key to success in handling options, expecially as a buyer. Most people loose because of the lack of it. I was happy to learn that you often sell covered calls or puts when you wont to own the stock. I do this often myself. Regarding the 80% being skewed as it includes many options which were meant to expire worthless such as when they are part of a complex skeem, the simplist of which is when one sells short a stock then hedge his short (after the stock has fallen some) by buying calls. These are, however, explanation about why the 80% and do not negate that figure. Since, with options (especially short term ones) it is much more a zero sum then with stocks, it must be that the sellers of options who gets the money 80% of the time. That is why I have been only selling options for the last two years or so. The last time I bought calls was when CPU had a rally from 7 to the stratosphere, as I was selling stocks at intervals I was replcing them with options that I kept rolling upward. That was profitable. Almost all options I bought before that were waisted. Now I have some calls on AND that are going to be waisted too. but I don't need them as I already covered my short. Ghassan.