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Non-Tech : Any info about Iomega (IOM)?
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To: Naggrachi who wrote (41005)12/20/1997 1:40:00 AM
From: Andrew Shih  Read Replies (1) of 58324
 
To All: Writing Covered Calls

I accumulated a few more shares to bring my basis down to around
$29. (I sold most of my position back in mid Nov around $32)

I'm very optimistic about the next few months, but some of the call premiums are awfully tempting. For example, the Feb 35s are trading around 1 3/8. Since I'm holding these shares anyways, another 1 3/8 drop in my basis would be nice. Even if I'm called out, that's about an $11 or 40% gain from these levels in 2 months time.

Is there a better way to take advantage of some of this over-exhuberance or is this a good trade?

Thanks,
AJS
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