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To: Voltaire who wrote (3618)	2/13/2000 1:49:00 PM
From: uel_Dave	Read Replies (2) \| Respond to of 35685

Thanks Tom, You are right I should be covered, but I am new to options, although all my accounts are set up. My wife has 100% QCOM in one of her tax sheltered accounts and 96% in the other. She will appreciate this feedback, since she does not work. OK, I will cover 1/2 the shares and let the others ride. I will first do it with the tax sheltered accounts and then the taxed accounts. However, I will try to get April 175s and then if they expire move to July 200 or July 250. But if I have too much OTM, then the income will be less, correct? I will have to determine which is better ITM or OTM and what price I would take to be called. David

To: Voltaire who wrote (3618)	2/13/2000 2:14:00 PM
From: Jill	Read Replies (1) \| Respond to of 35685

Volty...and if you're writing covered calls on half, you can also be selling puts quite easily, with your margin collateral. If you sell below the trading range, the likelihood of getting put is pretty small (and anyway you can reposition). It's easy to generate 3-5K a month with relatively small portion of margin collateral and low risk to your portfolio; someone just posted on our thread yesterday that she made 20K last month selling puts, and she hasn't even been at it that long.