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

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To: mc who wrote (11774)	11/1/1999 9:47:00 PM
From: Dan Duchardt	Read Replies (1) of 14162

mc, I honestly have no clue about DIS. I was unpleasantly surprised at the gap down this morning. The only news I see is the Hong Kong deal. I haven't researched it, but perhaps that is seen as a near term drain on Disney's capital with the return on the investment being too far away. I haven't made any move yet, and I guess I'll be patient if the support at 25 holds. Maybe everyone is nervous about the earnings. I'm starting to think seriously about writing 25s for DEC or JAN. Other positions: Talk about whimping out, I sold some defensive calls on DELL and ONE when they pretty much ignored the rally of last week. DELL went nowhere on Thursday, and ONE gave back all morning gains on Friday. DELL DEC40s put my nut just under 38_15/16, and ONE DEC37_1/2s put my nut at 35_7/8. I don't stand to make too much on either position if I get called out, but if the stocks catch on and wipe out the time premium, I'll look at rolling up and out. If they expire, I'll reassess. I was so far down on both positions for a while that just getting out without a loss will be welcome. I'm not convinced were not going to drift down again for a while, so I've raised some cash and I'm looking for some good entries. IFMX made a nice move today and held up pretty well against the afternoon selloff. I'm waiting for the run to the upper BB on that one. ABTE seems totally unaware that the market changed direction, but when earnings are reported and the earnings growth becomes visible I can't see this going anywhere but up. Dan

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