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jdaasoc

02/17/03 11:08 PM

#77137 RE: tantal #77131

often buy in thirds or fourths

When I am selling short options in the Q stocks like EXPE or QCOM, mostly very agressive short calls and timid short PUTS, I always do a partial sell. If you don't get it right at first strike price you can always go back and sell again on next leg up or down in stock price. EXPE will always pass up and down though your strike prices will some time decay so it is very not to buy back short option at a small profit unitl you get your full fill of short calls at a price going to zero and short puts at a local low hopefully safe. Right now om EXPE I am holding equal numbers of MAR 55 short put and offsetting half postion of $55 and other half at $60 short MAR calls. The key is to stay hedged with short calls and short puts since you fon't really know which way stock is going to go next.