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

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To: Herm who wrote (10506)	4/22/1999 5:26:00 PM
From: MMarcelia	Read Replies (1) of 14162

Herm, I just noticed that PAYX is approaching its 52 week high of $55. It closed today slightly over $52. Volume was less than average. PE is high at 62, while earning are expected to grow at 33% over the next year. Looks like we might have a put/short candidate here. Other factors to consider: the company just announced a 3 for 2 split and a $.09 dividend (annual div = $.36) for owners of record on May 3. Doug's page tells me the TRO for this stock is a very sluggish 90 days. With the increase is shares from the split, this number is sure to go higher. PAYX is currently riding the upper BB. RSI is kinda low at about 62. Using the WINS methodology, I expect PAYX to peek soon and begin a slow steady decent (the TRO appears to be too high for something sudden to happen). What do you think? MM

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