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Strategies & Market Trends : Options -- Ignore unavailable to you. Want to Upgrade?

To: uel_Dave who wrote (4524)	3/9/2000 7:23:00 PM
From: Kayaker	Respond to of 8096

CCs on QCOM -- July 175. Hi Dave. You generally want to sell CCs when the stock is relatively high. I'm thinking QCOM is pretty low right now, at least that's the hope. I would also only sell CCs at a strike where I'm happy giving up the stock. It's agony if the stock starts to run higher and you don't want to give up the shares at 175. Not much fun buying back at a higher price. But then, maybe we won't move higher in the near term. If you DO short them, you can always buy them back at the bottom of that Nasdaq correction I've been expecting for the last 5 weeks. I shorted the Q July 250 calls back in early Feb for 9.50 and just bought them back for 3.00. I'm not willing to do it at a lower strike, but I know your situation is different. FWIW, I shorted some JDSU April 220 puts yesterday for 10.00 and bought some JDSU June 120 calls for 150.00 this morning. Regards, Yaker.

To: uel_Dave who wrote (4524)	3/9/2000 9:00:00 PM
From: Jill	Read Replies (1) \| Respond to of 8096

Hi Dave. I closed out various call positions today as I said I would...altho held onto NT, NTAP, SEBL, and ICGE. In prep for considering ELON altho it has already run a bit and I have to watch the trading range. If I were to write CC on QCOM I'd wait again until it hit the 140s. It seems to be a daytraders dream right now with a very consistent range of mid 120s to mid 140s. That's because in spite of Voltaire's posts I don't want to use my QCOM for this monthly income, I want to buy something else and sell cc on it. Right now is a GOOD time to sell puts of course. I'd sell 110 as we're way too close to 125 and even tho that is strong support, always look to protect yourself from a serious market downdraft. What are the premiums?