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Technology Stocks : Semi-Equips - Buy when BLOOD is running in the streets! -- Ignore unavailable to you. Want to Upgrade?

To: John Nobrega who wrote (4363)	1/8/1998 5:10:00 PM
From: Zeev Hed	Respond to of 10921

John, it is a question of timing, if you feel you are a good timer, than on Monday you would have sold the July 25, and possibly would cover at let say 26 sometime during the week of the Jan expiration. If you wrote the 30 or 35 most of the July time premium would still be their, but when you write the 25 the time premium is a small part and you can capture the fluctuations within the decline, then, if indeed you are a good timer, you might be able to rwrite the same Jully 25 when the stock rallies back to about 28-29 and wait for the major decline in February. If you do not feel you can time these, and you think the genral direction is down, than simply sell the stock or keep rolling the time premiums. But then I would go into closer months and right the options strike a little out of the money to otpimize time premium collection. Zeev