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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (16369)	4/14/1998 2:58:00 PM
From: James F. Hopkins	Respond to of 94695

Barry > Re If it goes up then your just neutral except for the puts. Interesting. But, if it falls to 67 and just hangs there until exp, then what? << well that's not exactly to good but I can close the short there - for 11 3/8 gain call it at 65 and arb out, bringing me to 13 3/8 ..and keep the $2 put money running me to 15-3/8 for calls that cost less than taht but time the comish is finnished it's about a break even..( that is if I were to wait that long ) which I doubt I will if she goes down..I'll watch the calls an see were I can close and get the most out of them..just have to close the short first. Or roll the calls down some. The only way I will likely consider staying in till ex date is if she goes up. This happened fast..as did he last two times I played XCIT ..both times I was in puts and out in less than 2 days..thing is now there are no good puts on her they are all to far out of the money. Latley XCIT has been the more volatile of the bunch..percentage wise. But you got to be fast. Jim