Acording to the E-1B flight manual the AN/ARC-38 HF trailing wire antenna had 4 preset extention lenghts. They were 9, 26, 45 and 65 feet. The lenght depended on the HF channel selected. The antenna was deployed when the antenna selector was placed in the trailing position automatically retracted when the antenna was set to fixed, the set was turned off or the landing gear was extended.
There is a caution in the manual stating that the maximum airspeed for retraction was 130 knots indiated airspeed. Exceeding that could result in reel motor clutch failure and erroneous indication of retraction.
My suggestion would be to tie it to the water rudder command or another exit command if it is decided to do this.
Hope this helps!