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Strategies & Market Trends : Covered Calls

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To: Terry Maynard who wrote (46)	5/11/1998 10:59:00 PM
From: tchphysics	of 86

FPAM looks a little interesting. Certainly beaten down as of late. The info I found shows them to be profitable and earnings are estimated to continue growing at a nice clip. biz.yahoo.com I ran the numbers through the spreadsheet. According to CBOE Quotes, the bid/ask on the Jun 12.5's are 15/16 x 1 3/16. I would recommend putting in a limit order to sell at 1 1/16. Assume a stock purchase price of 11 5/8 (between bid and ask at today's close). This gives a 16.5% return if called and 9.1% return if expires. These figures are non-margin and include costs of commissions using DLJ Direct. I would not go for the August writes personally. They are showing a bid/ask of 1 9/16 x 1 13/16. cboe.pcquote.com

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