Compaq Message Board - Msg: 5851462

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Technology Stocks : Compaq

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To: Night Writer who wrote (33512)	9/27/1998 9:09:00 AM
From: HoodBuilder	Read Replies (3) of 97611

Just my $.02 A high volume of calls at a given strike can act as overhead resistance as call buyers close positions resulting in off-setting stock sales buy the writer. I'm long a boat load of CPQ common and LEAPS and write covereds on 25% of my position every month to generate income. I'm as hopeful as the next guy but technically there is tremendous overhead resistance at $34-35 which I don't feel will be broken unless we get some overwhelming news. CPQ has been a covered call writers dream as it trades in a predictable range, the options are very liquid, the premiums are high and on the downside it's a great long term hold if you play it incorrectly. What more could one ask. I'm still waiting for the Alta Vista IPO that will put a smile on everyone's face!

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