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Technology Stocks : Identix (IDNX) -- Ignore unavailable to you. Want to Upgrade?

To: brad greene who wrote (12710)	3/12/1999 3:10:00 PM
From: Night Writer	Read Replies (1) \| Respond to of 26039

bg, Did IDX close over $10 on expiry day? Also covered call writers will let the stock be called. Remember they normally write an option above purchase price. The rule of thumb is not to chase the stock by retiring the covered calls at a loss. Let the stock go. You can buy it back later. Not only that but the stock isn't always called at the strike price. To be called for sure, it needs to be about 1/8 over the strike price. If the call writer doesn't call the stock, the broker will call the stock if it is over the strike price by a given amount. This amount varies among the brokerage houses. (explained by my old PW broker.) So I don't think it was a covered call writer. I don't think it is someone selling naked calls. The risk is too high for the premium. I think you spotted a call buyer. He is coming back to the well because conditions are good. So your good omen may be a genuine option player. I hope he makes a ton of money. That would be good luck for all of us. NW