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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Glenn D. Rudolph who wrote (26811)	12/7/1997 11:33:00 AM
From: satish kamat	Read Replies (2) \| Respond to of 61433

Glenn: Thanks for sharing. Few people can admit that they got burnt. I learnt that if I can't admit my call was wrong I can't get anywhere but lose more money. Anyway, your current strategy is very similar to what I have been doing after I had few good rides ealier on ASND and was convinced that 38 and 34 were great multiyear support. So I sold some naked puts for 30, but with a following combo strategy: rule 1: stagger buying and selling rule 2: buy shares only through selling naked puts on a bad dip day with strike price +/- $1-2 near day's low price. This will typically lead to only 40% of final # of shares you want to buy. this is a good strategy, thanks to steve. allocation: 30 % shares short term trade - sold naked puts for 30 25 and 20. on last wed. sold naked puts for 25 dec. and jan. on thursday i was told that some of them were exercised. friday morning sold these shares. sold naked puts for dec 25 and jan 25 on friday afternoon and will sell more next week depending on volatility and trend. 30% shares - sell calls on peaking : on friday morning sold dec 35 calls, this part is like a divident play and typically leads to long term 40% shares long term: will hold upto aquisition or fundamentals become bad - world decided to go back to stone-age, company admits spying in Ghana or so. I am sure you will take this info only as my experience. Feel free to share your experience and thoughts even if they may point to flaws in this strategy. And Good Luck. satish