gradyvt

Thank You very much for reply. I will look at the different ideas you mentioned and check pricing. I really need to learn more about options, sounds like a great game with many different ways to make (or lose) money. Any other thoughts would be appreciated. maybe I should just take a profit and close out before long weekend. Thanks BT

Hello, I currently have a short position on a stock RIMM. sold short at 14.50 now 12.75. I would like to keep the position but protect it somehow using options. I think it will go lower but there is always a chance of a buyout. I have made a few options trades but am certainly new to them. Any thoughts on the best protection so I am not always checking the ticker to make sure someone did not purchase it for $20 and I am broke. LOL original thought was to just buy a Dec $13 call. If stock stalled or went down to my exit point I could sell this option to recover some of the premium. Thanks for any input BT