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To: Voltaire who wrote (15131)	4/19/2000 4:44:00 PM
From: Clappy	Read Replies (1) of 35685

I am now Officially a Member of Voltaire's Porch Stress Free Club!! I wrote my 1st set of Covered Calls! After buying GSTRF low on Friday, I watched it grow and today I covered it with an additional 13%+ paid to me in Premiums. (at least that's what I figured it to be...when GSTRF was at $11, I wrote the May 12.5 for 1 1/2) I decided not to look at GSTRF as a stock that I desire, love, want to keep, etc. Instead, this month it will be my vehicle that I use to guarantee me 13% on my investment. I don't care if it gets called away. I want to continue to get at least 6%-7% each month and compound it. If the Nazdaq decides to retest the bottom and takes GSTRF down with it, I may consider buying the call back at a much smaller premium and repeat the process when it climbs up again. -Or- I may decide to simply write a call next month on it again regardless of how low it is. I already bought the original shares low so I can afford to get called on it. I could try to cover it at a higher premium if it is too low of a price. Either way I slice it, I win. No Stress. Voltaire, I'd like to get your point of view. I would never hold any opinion against you. Please feel free to critique my move today to let me know how I could have done things differently. What other options do I have if the price sinks? If GSTRF should sink all the way down to $7 or $8 in the next few weeks, would it then be wise to buy to close? and then ride it back up? All experienced options traders are invited to voice their opinion. Let me know if I made any errors that you can see. Don't be polite or easy on me. Tell your doubts or errors I may have missed. I want to learn. Thanks, -StressFreeClappaBeano P.S. Not exactly Stress Free. This represents only 1/8 of my total portfolio. It's a step in the right direction though... :^) P.P.S. Should I have written the May 10 instead? It was paying almost 2 1/2 when GSTRF was $11 per share. Thanks.

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