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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: hpeace who wrote (1120)	3/16/1997 2:49:00 AM
From: Robert Graham	of 14162

After further analysis using a 2 year history, I see a resistance point at 27.5 for ATML. I do not see it as a strong resistance level based on TA, but playing it safe would be to keep this resistance level in mind. There is a fair degree of support at 25. If it does slip through this it usually goes at most down to 23.7 after being held up at 25. There is another fair degree of support at 22. There is also a strong support at 19. IMO, the chances of it slipping to 19 this time around is small. However, there is still a fair chance of it slipping to about 23.7. My only concern is the dropping NASDAQ and the momentum players leavng the techs recently which is what is helping the NASDAQ drop. In this case, 27.5 does sound like a good safe bet. My 2 cents FWIW. What will the difference have to be between the purchase price and the price at which cc's are written in order for this strategy to be practical?

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