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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe) -- Ignore unavailable to you. Want to Upgrade?

To: Thai C. Nguyen who wrote (688)	2/13/1998 10:24:00 PM
From: margin_man	Read Replies (1) \| Respond to of 2241

<<just want to lower my cost down from $17.50.>> Thai, PAIR is currently at 20 11/16. Lower your cost down from 17.50???? Did you happen to buy PAIR by exercising your calls? Patriot P.S. BTW, did you dessert PAIR thread?

To: Thai C. Nguyen who wrote (688)	2/14/1998 12:38:00 AM
From: ----------	Read Replies (1) \| Respond to of 2241

Hello: Mr. Patriot asks a very relevant question. However, you must also be WILLING to sell the stock at whatever strike price you designate. It is fine to "feel" something will or will not happen. However, I can tell you, my own feelings have let me down numerous times. I've had a very very nice run selling MSFT calls over the last 10 months. However, they are currently in the money. I had always felt that at 155 MSFT was overpriced & I would be willing to sell it. Fundamentally, I still feel that way. However, I know "John Q. Public". (Just a "feeling, I've already said how good these are. <g>). There may be a few more $$$ to be squeezed out. BUT, I sold the calls, so I'll let the chips fall where they may. I have a couple stocks I never, never,ever sell calls against. I like them & want to keep them. In summary, IF and only IF you are willing to put your money where your feelings are, then you can sell the calls. IF the stock gets taken away from you, you must have the conviction to wait for it to fall back before repurchasing. If it keeps going up it is another story of "one that got away." Doug