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Technology Stocks : Lucent Technologies (LU) -- Ignore unavailable to you. Want to Upgrade?

To: Doug who wrote (6767)	3/23/1999 6:18:00 PM
From: CalC	Read Replies (2) \| Respond to of 21876

Is Lucy going to close at 98 by the end of the week?

To: Doug who wrote (6767)	3/24/1999 12:36:00 AM
From: Egul	Read Replies (1) \| Respond to of 21876

Still holding my Apr100 C. Calls written @8 3/4 now worth 5 3/4 If I buy back the calls now I'll net 3, that was one of my decision points. The stock is sliding, but is it over, that's the question? Volatility is still very high, there still 5+ points premium and 3 1/2 weeks til expiration. Last time I got greedy on an option I turned a $13K potential gain into $3.5K on the day of expiration. LU seems to always (of late) have some serious resistance at 95. If, in the next few days there's another 3-4 points downward movement my plan is to take the profits by buying back the option @hopefully 6-7 and use that to 'buy' some Apr 95 calls. And hope for some bounceback. If not I'll hope the erosion of the premium holds up my decision until I can get 6 out of the covered call. This is always the hardest part of the transaction, knowing when to sell.