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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: reaper who wrote (201534)	11/1/2002 12:31:09 PM
From: James F. Hopkins	Read Replies (2) of 436258

I'm accumulating ( but hedging each bet ) I'v bought all the way down from about $10 but each time I sell covered calls, I have calls sold out from 2003 5s to 2005 10s & I intend to keep adding each time she drops more. I've averaged my cost basis down to about $6.50 if I take in the whole position. If they don't cut the dividend I'll be getting about 7% interest on my cost basis. And while the mix can be called at 5, 7.5 and 10..if and when the 5s are called I'll just add more If she is still down and sell more calls out forward. I won't dump GT for the next 2yrs no matter how low she goes, I'm much more likely to add on any more weakness. My bets are conservative, because of the hedge however if she can get back to 10 in 2 yrs' I'll be 40% up and also collect the dividend along the way. Come Nov 10th , Goes ex on 13th , but they have to call by the 10th to get it out of my account by the 13th, ( heaven forbid GT cuts the dividend ) if not it will chop 12 cent a share off my cost basis. Jim PS I just saw where ALL the major Tires Cos got together & are going to jack up prices about 5% come Dec , So much for no inflation. Tires are not going to go out of Style, any time soon..if new car sales drop replacement tire sales go up. Which indeed they are already up in Europe.

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