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To: Voltaire who wrote (26815)	7/27/2000 7:56:09 PM
From: Mannie	Read Replies (1) of 35685

Hi Tom, When a stock you have written against goes into a plunge like many have this week...could you go through your general thought process to approaching this situation? Say you buy XXX at 80, write AUG 80's for 11...do you wait for the call value to get to $2 or so before considering buying the call back and rewriting, or would you be tempted to let it ride, as there is a lot of time for a possible recovery in share price. Or just wait to roll out into September. Are you looking at the share price, % loss, or the call price or all of the above.....in order to make a decision to act. I know you have covered these issues repeatedly, but my thoughts in this area are a little unclear right to me right now. GMST has been a dream write so far this month. How is Candide? I haven't seen much of him around here. I'd love to hear how his plan is going, tell him hi from me.Tell him to get over the Porch, he's been neglecting his chores. Thank you, Scott

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