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Non-Tech : APCO Automobile Protection Company

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To: Amigo Mike who wrote (3112)	1/30/1999 12:54:00 PM
From: Sal D	of 3351

Mike, From post #3084 <Started with APCO at 10 riding down to 5 after luckily selling covered calls at the 10 level. Since that point ,have purchased several thousand shares via selling puts at 7.5 level and continue to sell puts at trailing strike prices. Based upon the info in your posts plus my own DD, it has been fun being very leveraged in this stock. At current levels I have been reducing leverage covering naked puts sold at 10 but still think this has a long way to go.> And from your post <I am very much intrigued by it ...... my only ????? is how much capital the broker wants to hold by having the naked put position. The gentleman who posted about said he used that style to acquire stock on the way up while protecting his position. Very nice indeed.> You know how good I am with options (LOL) I have been getting better, at least I think so. Intrigued, yes. And agree very nice. I followed him up until He says: <At current levels I have been reducing leverage covering naked puts sold at 10> Currently my option agreement does not allow me to write uncovered puts or calls. Joe

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