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Strategies & Market Trends : Options

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To: Tom K. who wrote (7787)	6/8/2000 5:16:00 PM
From: Tom K.	Read Replies (1) of 8096

Re: Naked Calls Last month with the change in market direction, I moved from naked PUTs to naked CALLs. This was something new for me, and I promised to provide an update. Here's what happened... 5/3 sold 30 BBRC Jun 75 @2.75......5/22 bought @.625 net $6,343 5/3 sold 20 SDLI Jun 230 @9.357....5/31 roll to July 250 5/11 sold 30 CHKP Jun 210 @6.125...5/30 bought @1.75 net $18,886 5/11 sold 30 SEBL Jun 210 $6.625...5/30 bought @1.6875 net $14,536 Total income = $39,765. I'm pleased with how this strategy worked out, but I can't say I'm comfortable with it yet. Found myself watching it constantly. The down side is that I still have the SDLI CALLs open at 250 for July, although there is plenty of room to roll up and out some more. I'm watching this one closely. With the market looking like it's done its damage, I'm now back to the more comfortable arena of PUT selling which I know better. Tom

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