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To: Getch who wrote (7435)	3/14/2000 1:34:00 PM
From: Voltaire	Read Replies (3) of 35685

Hi Getch, one thing you left out of your list was what you sold your Mar 90's for, very important. 1. You sold I assume 5 contracts for approximately $1,600 per contract or about $8,000. 2. write new calls for $8,000 3. Receive about a third of appreciated value because stock price has increased about a third more than the calls, for about $500 x 5 = $2,500 Total Revenue $18,500 total cost 7,500 to buy back. Net gain so far $11,000 without appreciative value for the upcoming month. That is about a 24.4% return on your money of $45,000 and if you had done it on margin it would be about 48.8% and you have yet to get a third more of appreciative value for the upcoming month. Not bad! V

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