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

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To: Herm who wrote (11435)	8/26/1999 1:20:00 PM
From: tuck	Read Replies (2) of 14162

Herm, Been away from the thread for a while (moving soon). I came across a WSJ story today that is of concern for options investors such as ourselves. interactive.wsj.com For non-subscribers I can summarize . . . Now that options exchanges have started to violate their gentleman's agreement not to poach each other's exclusive listing of blue chip options, OPRA and others foresee a much larger increase in quote traffic than they were ready for. The upshot is that OPRA may not have the capacity to handle the traffic, making the availability of real and near time option price information problematic in the near future. This is not good news. Out of Edify with a slight profit after all the gyrations. Next time, if I happen to be using more than a little margin, I will simply let myself be called out. Rolling up when starting with 25% margin turns out to be too risky with vipers like Edify. Fortunately, there shouldn't be a next time. I'll be using just a teensy bit of margin per your rule of thumb (i.e. to buy the last odd lot of shares to make it an even multiple of 100). Now simply short with some puts on QLTI. Cheers, Tuck

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