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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 (6196)12/19/1997 1:31:00 PM
From: JoAnn McCracken  Read Replies (3) of 14162
 
Hi Herm,

How's it going? I purchased 500 shares of VVUS today at 12 1/8 and sold the March 12.50 for 2 5/16. I know you don't like buy/writes but the premie looked like it held a lot of time value. My question is was this a wise move? I am very happy with $1,100 plus the possibility of being called out at 12.50. How do I figure out how fast the time value will erode?

Thanks Again for All your advise,
Jo
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