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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Lawrence Burg who wrote (10339)	4/12/1999 5:59:00 PM
From: Herm	Read Replies (1) of 14162

BLAST OFF! FINALLY! BTGC broke thru that massive over head resistance of $8.00 and heading for the next brick wall at $9.00. Sideways action will most likely occur IF no news is announced like today's article with positive BTGC endorsement. moneycentral.msn.com WINs Variables? Very high volume today, an RSI that is the screaming high range for BTGC, elongated wide upper BB puts BTGC in the over purchased range. 20%+ raise on Friday followed by today's 13% makes it a bit tempting for quite a few people at this point. The fundamentals point to a good value. The CC premies are looking REAL good! Some of you late for the party may get a buying opportunity after BTGC attempts it charge past $9.00. That may come tomorrow! NASDAQ: (BTGC : $8 11/16) $409 million Market Cap at April 12, 1999 Trades at a 35% Discount PE Multiple of 24.1 X, vs. the 37.0 X average multiple at which the Drugs SubIndustry is priced. askresearch.com; BIO TECHNOLOGY GENERAL CORP (NASDAQ:BTGC Last Sale: 8 11/16 +1) BTGC Trading Summary shows some 5 heavy duty blocks blasted away today. Note, one large block on the down tick @ $8.53 high. That's minor profit taking if you ask me! But, watch and see the ratio increase in the large block down ticks as the MMs sell into the hype. Earnings release is about two weeks away! Should be interesting. We know BTGC will match or beat street numbers. Otherwise, we would have heard some warnings by now! $11.00 bucks is what they are projecting by Dec. 1999. We have to milk some more CCs out of this cash cow! QTGJB 10s Oct @ 1 1/2+ with an open interest of 212 might be a conservative strike price offering $1.50 downside protection and a $1.32 (15+%) upside from 8 11/16s current price. Of course, you could invest the CC premies into WINs sideshow long calls for additional profits or cheap PUTs. With BTGC, I don't think that will be a threat! 12-APR-99 Ticks Money Flow($MM) Avg. Price Small Blocks +230 -210 +1.6 -1.5 8.2381 Large Blocks +5 -1 +0.9 -0.2 8.5390 Total: +235 -211 +2.5 -1.7 8.2754 09-APR-99 Ticks Money Flow($M) Avg. Price Small Blocks +101 -99 +650.9 -600.0 7.5676 Large Blocks +3 -0 +227.8 +0.0 7.6172 Total: +104 -99 +878.7 -600.0 7.5721

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