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Technology Stocks : Compaq -- Ignore unavailable to you. Want to Upgrade?

To: robbie who wrote (23890)	4/4/1998 5:20:00 AM
From: Mike Gordon	Read Replies (2) \| Respond to of 97611

<< why not take some of those proceeds and buy an upstrike call, at a higher strike price than the ones you sold and a couple months into the future?>> Robbie: Sometimes I do through an overlap process, i.e. a sale of a near term up strike followed by a second sale (not naked) 6 weeks into the next months call. My objective is determined by ROR. What ever I can insure within my guidelines, I will implement. As many have pointed out, you run the risk of a true run up in the stock. However, if you stick with your objectives, generally, you'll do better annually than waiting for a substantial increase in the equity. Just the way I run my investments. Mike