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To: safe_trade who wrote (128015)	5/24/1999 4:42:00 AM
From: jim kelley	Respond to of 176387

You can neutralize your position by selling covered calls on your DELL shares. These may be at the money calls or deep in the money calls. This is sometimes called a collar. The money raised by this will go to reduce your margin. When the uncertainty in stock price is removed you can repurchase the calls.

To: safe_trade who wrote (128015)	5/24/1999 5:27:00 AM
From: arthur pritchard	Respond to of 176387

safe trade:<your margin worry> calls will bring premiums into your account, and may protect all your present shares. '''''However, you may want to think about selling enough shares, to stop the "margin worry". If you do not have experience with writing calls, this may be the best solution. '''''Personally, during times like these, I would not be just learning about the options market. Or I would go into them lightly, so as to begin learning. '''''To learn, go back through the many execellent posts on this thread. I can't pin down the dates for you, but there have been extensive talks about alternative methods, as well as texts to read. '''''If you indicate the extent of your interest, and so forth, someone will respond. I just happen to be up tonight.

To: safe_trade who wrote (128015)	5/24/1999 8:29:00 AM
From: Happy Cat	Respond to of 176387

-OT- Safetrade, If you want to learn about options, Ameritrade will send you a free options simulation trading game, called Darwin, survival of the fittest. I don't do options yet, but play this game and trade on paper (don't actually do the trades, just write them down and see what happens) and read about options before you jump in. Options can be risky, but are worthwhile if carefully thought out. -Carolyn