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To: Ian@SI who wrote (3918)	11/3/1999 1:11:00 PM
From: PMS Witch	Read Replies (3) \| Respond to of 17683

Kinda reminds me of a time as children when we had a kid next door who'd get an allowance of a dime each Friday. He'd immediately run outside and trade it with some other kid for a nickel. He'd go away happy with his 'larger' coin, and the other kid laughed all the way to the store. In investing, I often puzzle over which kid's role I'm playing. Cheers, PW.

To: Ian@SI who wrote (3918)	11/10/1999 9:49:00 AM
From: Yogizuna	Respond to of 17683

Ian, I disagree with you strongly here. First of all, it was a bad "mistake" that Mark Haines did not mention the fact that one cannot earn extra income on their shares by selling calls unless they buy in round 100 share lots, and secondly, Schwab approved us for selling calls covered calls when we were relatively inexperienced and had almost nothing of value in our account. Why? Because writing (selling) covered calls is a very conservative way of dealing with options, and it does not take much money or experience to get approved for that type of trading activity. Writing calls has literally saved our backsides in the past when we made some poor stock buying decisions. So remember folks, you are ALWAYS better off buying your shares of stock in increments of 100 (100, 200, 500, 1000, etc, )etc, and Mark Haines was VERY wrong not to mention this very important point. So you see Ian, there is a HUGE difference between buying 1 share at $1,000, or 100 shares at $10. (assuming the stock you are buying has options, and most big-caps and mid-caps do these days) Yogizuna