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

To: Mr. E2u who wrote (33699)	2/6/1998 1:00:00 PM
From: Glenn D. Rudolph	Read Replies (1) \| Respond to of 61433

I agree with you. That's why I sold all my feb and mar calls yesterday before the close and will wait until on or after options expiration to get back in on the long side. We certainly can't complain about the performance of asnd over the last few weeks. I think we are due for a small pullback or at least leveling out in between 32 1/2 to 33 1/2 for the next week or so granted there is no major news. I know I am going to regret this. However, Pheonix, why did you sell your March Calls when you could have written calls at the next strike price up and created a spread? You already paid time premium to buy the March calls so you could have obtained the time premium back with no change in position except the time premium in your account. The written calls would not be naked since you would own an equivalent amount of calls at a lower strike price. Glenn