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

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To: William S. who wrote (11000)	6/8/1999 4:51:00 PM
From: Herm	Read Replies (1) of 14162

Hey WS, The annual dividend for PEG is 5.3% or $2.16/yr. per share. If you think PEG is moving up then the 45s DEC. @ 3/4 (1.82%) is not bad on top of the dividend. Again, this is an ultra conservative industry group to write CCs. Now,if you look at the chart below there is a chance that PEG may pull back. If so, then the CCs with the 40s JUN @ 1 3/4s (3.34%) would be a good hedge. If people own utility stocks then they have little to risk because they are taking the most risk now. Growth rates for utilities don't exactly impress most folks. iqc.com ELECTRIC UTILITIES WITH OPTIONS Ticker Company Name PE DUK DUKE ENERGY 16.8X SO SOUTHERN CO. 15.0X PCG PACIFIC GAS & ELECTRIC C 15.7X ED CONSOLIDATED EDISON CO. 15.1X TXU TXU 13.8X FPL FPL GROUP INC 14.3X PE PECO ENERGY 15.6X EIX EDISON INTERNATIONAL 13.8X PEG PUBLIC SERVICE ENTERPRIS 14.6X UCM UNICOM CORP. 16.1X AES AES CORP 26.0X ETR ENTERGY CORP. 16.4X AEP AMERICAN ELECTRIC POWER 13.1X D DOMINION RESOURCES INC 14.2X REI RELIANT ENERGY 14.5X FE FIRSTENERGY CORP 12.7X CPL CAROLINA POWER & LIGHT 14.3X DTE DTE ENERGY CO 13.6X GPU GENERAL PUBLIC UTILITIES 12.7X CSR CENTRAL & SOUTH WEST COR 12.6X CIN CINERGY CORP. 12.7X PPL PP&L RESOURCES, INC 14.1X CEG CONSTELLATION ENERGY GRO 12.7X AYE ALLEGHENY ENERGY INC 13.6X

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