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

To: r.edwards who wrote (4946)	3/14/2000 11:16:00 AM
From: Seldom_Blue	Respond to of 8096

I am keeping my ELON calls until I exercise them in Aug. But if you want to use a CC strategy, why not buy a DIM Aug. call, where you are paying a few dollars premium but only half the price. Then you can write a call on it short term. You have created a calendar spread. If the options gets called away, you are doing the same thing as buying the shares and writing CC. If the option expires, then you keep the premium and write next month. This works only if you do not care about keeping the stocks. I have QCOM, NOK, ELON that I will not write CCs on because I want to keep them. On the other hand, I wrote calls OTM on CREE, ADBE that will expire worthless this Friday. I made about 4 points each on 11 contracts. I only write a portion of CCs, so I wouldn't feel so bad if the stock goes up too much. My PMCS still haunts me. Just a suggestion. SB

To: r.edwards who wrote (4946)	3/14/2000 11:18:00 AM
From: Poet	Read Replies (1) \| Respond to of 8096

Oh gosh, I apologize, r.e. Poet is sometimes a math idiot. ELON certainly broke out today. I see a high of 114, currently trading at 106 and change. If you're feeling bullish, look at the April 110's (EUSDB), just slightly out of the money. They look tempting to me.