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Strategies & Market Trends : Covered Calls

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To: VincentTH who wrote (14)	5/4/1998 8:11:00 AM
From: Bazmataz	Read Replies (1) of 86

I'm not sure you meant "SOX". You probably meant "OSX". In any case, I agree except for how GLM is acting. Relative to the OSX and many other stocks in this group (at least 20 of the 40 or so I follow), GLM is grossly underperforming. A few weeks ago when it tried to break through 26, it did so for a day or two, then crumbled back to below 22 for awhile. Even on this strong volume, great earnings and rumors of a buyout, we're still below twenty-FIVE! What other good news could influence this stock? Perhaps and ACTUAL buyout is the only thing that'll put us over 26. In any case, selling 27.5 calls seems pretty safe (if you don't want to get called) and selling 25s is a bit riskier, although if you don't mind getting called there, it seems like that'll grab you the best premium for your call. What do you think? Baz

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