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

To: Voltaire who wrote (7427)	3/14/2000 12:58:00 PM
From: Getch	Read Replies (2) \| Respond to of 35685

come Thursday or Friday morning, I will buy back my Mar. 85's roll up to the at the money whatever that is and write those. Only difference, I will use margin to double my return. Volt, mind if I try to follow your thoughts about ELON? I have a few Mar. 90 CC's and am, like many here, new to this. Per JW and yourself, ELON is poised to continue rapid growth. Stock price has far exceeded strike price. Will use 5 contracts at 90 (seeing as this is my post, but assumed same as your 85's), stock price late Thursday of 105 (same as right now) and APRIL 105 call price of 16 (split bid/ask as of now). 1.) Buy back MAR 90's with little or no time premium. -Expense of $15 per share or $7500. 2.) Write new CC (ELON APR 105) at current price of $16 -Gain of $16 per share or $8000 Effects. 1.) Still hold stock 2.) Additional $500 cash 3.) If called away in April, gain of $15 per share, or $7500. 4.) If not called away in April, rewrite MAY CC for premium. While you shoot holes in this first part, I will attempt a follow up.