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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 207.67+2.2%3:59 PM EST

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To: Epinephrine who wrote (37907)4/30/2001 7:06:54 PM
From: bacchus_iiRead Replies (3) of 275872
 
RE redbird :"Sell 100 Jan 2003 $30 Puts (now $9.20) and buy back 100 Jan 2003 $40 Calls (now about $9.00). "

I don't catch it! The Jan 2003 $40 Calls was covered call while the Jan 2003 $30 Puts are not covered (other than by a lot of cash, but if the selling of CC was to cover margin call, I presume that your account do not provide big cash reserve).

Gottfried
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