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Non-Tech : Doc Stone's Bierstube und Trading Room

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To: Bob Davis who wrote (564)4/27/1999 4:26:00 PM
From: M. Frank Greiffenstein  Read Replies (1) of 638
 
NTPA covered calls...

I am calling an intermediate peak in NTPA at 25. I wrote May 20 covered calls today against my entire position. Collected $5.50 a share in premium. I figure with May expiration around the corner, the time value will start to deteriorate rapidly and I may to get keep it. If NTPA stays above 20, the shares may get called away, but I have in effect sold the shares for $25.50, so any NTPA price below that at expiration is a winner.

DocStone
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