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Technology Stocks : Speedfam Options Discussions -- Ignore unavailable to you. Want to Upgrade?

To: Mr. Sam who wrote (121)	4/15/1998 10:57:00 PM
From: ELH1006	Read Replies (1) \| Respond to of 124

Mr. Sam, I presently am long 3000 shares of SFAM and also have 50 April call contracts at $30. Two weeks ago I was ready to write the calls off; however with the runup this week it now appears that I could possibly recover my principal or even perhaps make a profit. I am pondering what might be the best strategy here especially tomorrow morning at the open. If SFAM spurts out of the chute, I would like to take advantage of this and close out a certain number of contracts. I am concerned because of the 15 minute delay in the opening of the options and the possibility that the price of SFAM might back off to less than $30. Additionally, the spread on the options generally runs quite wide and I want to maximize the proceeds. One strategy might be to sell shares short and close out the position with the contracts. This may be more costly due to the double commission factor. I have never been in this position before as I generally close out a position long B4 the expiration date. Any advice would be appreciated. Eddie