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To: Len who wrote (9252)	3/25/2000 6:16:00 PM
From: kokomama	Read Replies (1) of 35685

Rolling up and out with little cash... I'm toying with ideas on how to do this successfully, too. In one IRA account, I have 1000 shares of Q. A few weeks ago, I sold 10 April 150 calls at about 6. Kept the $6,000 in my account. So, now I'm wondering if, at expiration day, Q is, say, in the 160-180 range. Use the $6,000 to buy back as many of the calls as I can. That frees up some shares on which to roll up and forward. Write May contracts on the freed-up shares at a strike price adequate to give me enough cash to buy back the rest of the April calls. Then I don't risk getting exercised. This is just my second month of writing calls, so I'm a novice at this. Any thoughts, anyone? kokomama

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