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Technology Stocks : Who audits AOL's membership numbers?
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To: Thom Taylor who wrote (60)4/21/1997 10:49:00 PM
From: Alan Smithee   of 65
 
TT:

I'm running Win.95 Your problem could be with Windows 3.1, but I'm not sure. Might want to help with SI help, if there is such a thing.

I wrote my first covered calls last month. CSCO 55's. Got a premium of 1 3/4. You need (1) to be prepared to lose the stock if you're called out, and (2) get familiar with the stock's trading range to get the best premium and hopefully avoid being called out. Also, if the stock drops and you want to free it up to write again, or if you are concerned it will increase back above the strike, you can close the position by buying the same number of calls in the same series (e.g., CSCO April 55's in my case) to close the position. Naked call writers do this all time if there is concern about the stock going back up. It's a good way to add money to your portfolio.

DSG
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