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To: Jill who wrote (6103)	3/5/2000 9:04:00 AM
From: Clappy	Read Replies (2) \| Respond to of 35685

Jilly Beano, et al: I was actually talking about "buying" RNWK covered calls. (As opposed to writting/selling them...) I'm interested in the thought process in determining what advantages or disadvantages one might look for. In RNWK's case, I expect their price to be higher than the combined strike + premium that is currently being bid. I'm using Jim Willie's TA as the basis for determining my contract price. I don't intend on actually trading options just yet. I'm trying to learn it on paper first for the next few weeks to get a feel of what I'm doing. (My non-IRA account isn't even set up for trading options yet...) I'd rather lose Monopoly money first while I educate myself. I figured my questions might be a good way for others to learn as well... I realize much of this is a matter of opinion, goals, etc. However, I'm trying to figure out what goes on inside the head of an experienced options trader when figuring out how far out they go and at what price to pay for the premium. Thanks for your help. -CG P.S. These questions are open for all. Please chime in or PM me with any thoughts.