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To: Joseph G. who wrote (12103)	12/1/1998 12:44:00 PM
From: yard_man	Read Replies (3) of 86076

No, when I said premium JG -- I meant time premium. Time premium shrinks as calls or puts go in the money, right? I did a buy/write on NEM -- bought 100 at 20 3/4 sold the Jan 01 20 call for 8 5/8. If (a big if I know) NEM goes to 30 or so the call option I wrote will have some time premium but much less than ~8 -- probablly something around 2 - 2 1/2 points. That's when I'd buy the call back and sell the stock.

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