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To: Jim Willie CB who wrote (46736)10/31/1999 7:25:00 PM
From: Voltaire  Read Replies (1) | Respond to of 152472
 
Yes JW,

and to think my day started with just planting some damn Pansies. Geez!

V.



To: Jim Willie CB who wrote (46736)10/31/1999 9:06:00 PM
From: Jack Bridges  Read Replies (1) | Respond to of 152472
 
And a nice friendly closing it was, to a complex subject. I've made and lost big time with covered calls. The key to V's viewpoint is "95%". Whether the number is correct or not, one can be clobbered if the price rises rapidly so that the proceeds from the writes become inadequate to repurchase the shares. This scenario forces a liquidation of some of the shares to buy back the calls.