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>Dean:
>
>First, check with your broker. I believe selling the stock on Friday,
>regardless of how far the option is out of the money, is frequently
>considered leaving you with an uncovered position simply because there
>could be a takeover or some other news after equities stop trading that
>could move the stock dramatically. If you're not authorized by your broker
>to take uncovered positions, then they won't let you sell the stock
>regardless.
>
>Even if you are authorized to sell uncovered options, make sure you
>understand the risk of being uncovered over the weekend...it's the same as
>holding the stock over the weekend, except with naked calls your risk is to
>the upside versus holding the stock over the weekend your risk is to the
>downside.
>
>If you have a concern of a dramatic event between close on Friday and
>opening on Monday, you should close the position.
>
>Good trading,
>
>Gregg Murray
>
>
>At 01:18 PM 11/10/97 +0000, you wrote:
>>Options traders:
>>If an investor has a Nov covered call option on one of his underlying
>>stocks, is it necessary to hold onto the underlying until the Monday
>>following expiration, whether or NOT the option is exercised?
>>As always, thanks for your help!
>>Dean Bush
>>
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