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Non-Tech : QQQ - Nasdaq 100 Trust

QQQ 609.74

-0.3%

Nov 7 4:00 PM EST

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To: OX who wrote (231)	1/28/2000 7:38:00 PM
From: E_K_S	Read Replies (1) of 840

OX - What type of QQQ options do you write? Are they (1) in the money, (2)deep in the money or (3) out of the money? Also what time period do you play; 30 days, 60 days or further out? I am looking at writing covered calls for February (only three weeks) but am a bit concerned that QQQ could still correct downward another 10%-15%. I bought QQQ on the close today to play a bounce back to 3917 on the NAZ or about 176 on the QQQ. We still could test 160 for a double bottom and then may even break that lower. First I think we will have a technical bounce up....after that it is hard to say. Therefore, I am not certain weather I should write covered calls for February for the 174 strike (QVQBR priced at $7 1/2-$8) or buy again if we test the 160 level?? EKS

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