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

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To: hpeace who wrote (740)	3/12/1997 11:02:00 PM
From: CCWriter	of 14162

RE: Covered Calls on Iomega Corp (IOM) Steve and All, I have owned IOM for some time now. Bought in September. Use to be nice for covered calls (general up trend, good volatility, etc.) Ever since IOM moved from the Nasdaq to the NYSE, volume has dried up. Someone reciently placed a artical on one of these threads about how the Nasdaq artificially manipulates volume. My experience with IOM makes me wonder. I am very bullish on Iomega the company, but shakey on IOM the stock. So much short interest. On the one hand, I think my money could be doing better elsewhere (ROST comes to mind). Right now I've decided to hang on unless IOM closes below 15. If it breakes 15 on close, I believe its support is broken and could go down to 12 (or lower) at least for the short term. McMillen says don't do covered calls on stocks you are bullish on. Anyway, if that happens I think I'll get out. On the other hand, why not write April 15's and just keep plugging away at getting my cost basis down as low as possible. Some this stock is going to rally. All of your thoughts are encouraged. Blaine

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