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>bull call spread, long AOL dec 50, short dec 55<
it would be better to go to expiration, however if you are assigned on your
dec 55's you would be short 100 shares of AOL times the number of calls
short, and would have to buy them in the market to cover. you could cover
by exercising your dec 50's or depending on margin, and the market, put a
stop under your dec 50's and buy the shares of AOL to cover, letting your
dec 50's increase in value.
depending on how risk adverse you are, you could sell much higher priced
calls and have a ratio spread, but the possabilites are many.
hope this helped some..............pat
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