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To: Jill who wrote (3624)	2/13/2000 2:52:00 PM
From: uel_Dave	Read Replies (2) \| Respond to of 35685

Thanks Jill, That is the plan to wait until Thursday for $140+ and start hedging half my position with March 170s, unless JW or V have a better plan or we discuss it further at your options thread. David

To: Jill who wrote (3624)	2/13/2000 2:57:00 PM
From: RocketMan	Read Replies (3) \| Respond to of 35685

OK, a couple of newbie questions about selling covered calls. Let's say with qcom at 132 and I sell a March 135 covered call for 10, the approximate current price. So I tie up 100 shares for each of those calls and get $1000 for each contract. I assume that if the price gets above 142 (132 + 10), I stand a good chance of getting called. Right? And I assume I then owe capital gaims on the sale of those 100 shares? Seems like with qcom's volatility one would want to sell at higher strikes to keep from getting called, like 150 or so, but then the premium is only 5. If you sell a covered call, I assume you get credited the proceeds from the sale. What happens if you get called, does the stock just disappear from your account, or do you get notified some way and then have to assign the stock from your account?