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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: upanddown who wrote (34642)	10/27/1998 3:28:00 PM
From: Cynic 2005	Read Replies (1) \| Respond to of 132070

John, I would suggest the following. If you have enough cash, first sell the stock short at market and immediately execute the call. You may end-up paying a commission for two trades. Of course, you first have to do math reg. which is optimum - i.e. selling the option at bid or the strategy I suggest. Placing both orders at the same time will help

To: upanddown who wrote (34642)	10/27/1998 8:39:00 PM
From: Knighty Tin	Respond to of 132070

John, The bid is all you are going to get in most situations, unless the stock ticks higher. As long as the bid is above parity, I think you are doing o.k. If you put in an offer between bid and ask, there are days when you may get it. But they are few and far between. The odds are a market maker owns the other side of your position and he is not going to allow anyone to step up to the plate and mess up his balance sheet. The alternative if you cannot get parity is to call the stock and sell the much more active stock. Two commissions, double friction, so it is rarely worth the effort. I would go with the bid. You've done great and why haggle over the small change? Some folks are into this, but I think your time is much better spent finding the next winner. MB