How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Herm who wrote (4394)	9/4/1997 8:05:00 PM
From: David Bogdanoff	of 14162

There is an article in today's SF Chronicle business section which may be useful in understanding the recent rise in VVUS with its large short position. Briefly, the new tax could disallows the hedging stragety known as shorting against the box. Investors using this method to reduce taxes had until today to cover their shorts and exit from this disallowed position. Consequently, a lot of stocks with large short positions have been rising on no news; this seems to apply to VVUS. Since short positions had to be closed today, this buying pressure will no longer be there. David

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