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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Voltaire who wrote (32461)3/6/2001 11:39:48 AM
From: pinhi  Read Replies (2) of 65232
 
Hi V, sold the April RMBS $50's with the underlying at $46 for 5 1/8. 20% return is called out in 5 1/2 weeks. Not bad, considering the common was 38 several days ago. That would give me $55/share if called. Considering I paid $85 for the stock, I just keep writing every month. Haven't calculated, but must be getting pretty close to break even while the long holders are just sitting there, waiting for RMBS to come back.

Pinhi
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