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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 (4913)	9/20/1997 11:40:00 AM
From: sailor	of 14162

Herm Doesn't help me as I have Oct 32.5 calls. Put my order in, changed it from 3 3/4 to 3/1/4. PBS filled the 3 3/4, it never showed up in by executions until 1 1/2 hours later. Assuming the order at 3 3/4 was cancelled. (they don't give cancellations like DATEK does) I reordered at 3 1/4. Also a fill. They then looking over the situation, no fault of theirs of course, are wanting to give me a margin call. NO WAY, it was their error and they won't take it back. Besides my VVUS being called out will cover the margin. Short of it is I have more 32.5 calls than I ever wanted at an average of 3 1/2 instead of 3 1/4. Figure their computer cost me $$$ plus commissions. For the short term I don't want to see another pull back until I can correct this position. Jim

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