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Pastimes : Rules We Can Learn From -- Ignore unavailable to you. Want to Upgrade?

To: Caroline who wrote (64)	4/26/1998 11:58:00 PM
From: Lazlo Pierce	Respond to of 109

One thing I've done (not as often as I should have), is if my options appreciate a good deal, I roll up another strike price or two, and take some of the profits off the table. For ex. if I have 10 Dell 70s, bought at 4 when stock is at 65, and the stock has moved to 77, lets say the options are now at 11. I would sell the 10, and buy 15 of the 80s selling for 4 1/2, taking the original investment (or some portion of it) off the table. Or some variation thereof. Depending on other circumstances. If there's plenty of time, and I' very bullish, I would either roll up to an ITM strike, or a higher # of contracts. Dave