Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Czechsinthemail who wrote (15489)	3/19/1998 11:51:00 AM
From: SJS	Read Replies (1) of 95453

Great strategy, however you have to have some that are up!! <g>. Just kidding. I am trying to build LT core oil holdings. When I sell calls, I lower my basis. Its been a great strategy for me, and I've shaved 5 or so points off my basis, for example on GLM by selectively selling calls and writing puts. Even with the 13 points GLM is down from it's high, I was lower ing my basis and mitigating the brunt of this downswing. I still leave myself with lots of upside and don't bear the brunt of the entire drop with just long holdings. It takes diligence and patience.

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