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Non-Tech : The Critical Investing Workshop -- Ignore unavailable to you. Want to Upgrade?

To: alias who wrote (5299)	2/27/2000 10:52:00 AM
From: Voltaire	Read Replies (3) \| Respond to of 35685

Thanks Alias, you touched on my favorite subject when speaking of CC writing. NEEDED INCOME. People must realize there is a hell of a difference in having all the money you need and needing income. This poor Porch Rat needs what? Yes income and this is where lives change. Now to taking care of his problem. JDSU- 1. Since option contracts are bought in 100 share lots, we do a little magic by using margin and bring his number of JDSU shares up to an even 200, now we can write 2 contracts as opposed to one. More income for our poor man. We simply go to the options chain and I would write the just out of the money strike of $260 for April paying $32.625 or an income amount of $6525 less commissions. QCOM- Again using the same margin magic, we increase his total shares to 400 from 374 and write 4 contracts. 4 contracts = 400 shares time $15 1/2, ( the premium on the April 135's) = $6,200 in income less commissions. Hope this solved his problem. I realize the academicians will say well we could do this and that but remember, this poor bastard needed income. PROBABLY CHANGED HIS LIFE WITH A MERE $12,000 or so. LOL V