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Politics : Formerly About Applied Materials
AMAT 223.95+1.7%3:59 PM EST
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To: Gottfried who wrote (44500)3/25/2001 12:07:57 PM
From: Jerome  Read Replies (2) of 70976
 
Gottfried***diversity of opinion - otherwise there'd be no buyers for your calls. :)

You are right...Gottfried. I'm not interested in AMAT testing a new low for the year.

For me the biggest challenge is what to do with a stock that has fallen a long way from the initial purchase price.

Right now I own some ASYT at 22, SSTI at 16 and ATML at 15.I have written covered calls (twice) on these positions below my purchase price. If this rally continues for another couple of days I should be able to do the
12 1/2' for ATML, the 15's for ASYT, and the 10's for SSTI. I figure this to be a short term rally, and the usual hand wringing to take over in a few days.

If I were a put seller I would sell the ASYT's 12 1/2's for APRIL, The ATML's 10's and the SSTI' 10's. IRA's do not allow for put selling so this is not an option for me.

A good key point in these postings is to watch when Ian sells puts and Jacob goes short. At that time write some covered calls at a higher strike for the next expiration.(based on Jacob's short position). When Ian sells his puts wait for the following rally of about 5 points and then sell some calls at a higher strike. I believe that they reason Ian and Jacob are very successful is because they keep doing the same thing over and over again. This is much safer than jumping from stock to stock.

Regards, Jerome
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