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Strategies & Market Trends : Z Best Place to Talk Stocks
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To: Iceberg who wrote (18092)12/27/1998 7:38:00 PM
From: steve harris  Read Replies (1) of 53068
 
Well I like writing calls, so I'm looking at selling puts to acquire
more of the oilpatch, then write calls after that. Most are at book
and below, I'm hoping they won't go much lower and with the put
premiums, I'll be getting the stock cheaper than it is now. And the
possibility may be I keep the premium and never get the stock.
Of course the downside is the book value is mostly scrap
steel which ain't worth much by the pound instead of by the rig.
$120 per ton?

UTIMU Jan 7.50 11/16x15/16 last 7/8
UTI Last trade stock 7 1/16 Book value 9.11
On Balance Volume is the only one I've seen that looks ok.
But then I've screwed up before.
steve
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