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: jtig who wrote (6639)	2/2/1998 9:52:00 PM
From: Herm	Read Replies (4) of 14162

Hi John, In the case of VVUS, the March 15s CCs may be a gamble because the pending FDA approval for the new plant and the short squeeze that WILL ZOOM upward the price of VVUS bigtime! I placed a limit order today for 5 contracts for the June 15s Calls @ 3 1/4. Those suckers could triple by June if everything works out with the world wide media blitz. VVUS has been moving up on less than normal volume. Nice change! The shorts are seating ducks. Wait until VVUS hits at least $20 and then you can do a spread to make up the differance fast. There is bound to be a pull back at $20. CREAF made a nice reversal today! Expect more upside from the mild short squeeze.

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