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To: Voltaire who wrote (7578)	3/15/2000 10:13:00 AM
From: Jim Willie CB	Read Replies (1) \| Respond to of 35685

got a margincall kind of first half hour stabilized at Naz 4700 looking good still see tech rotation into laggards like CPQ positive comments on CPQ by couple Houses ORCL up 5 nicely anyone buying Compaq here? / JW

To: Voltaire who wrote (7578)	3/15/2000 10:17:00 AM
From: lindelgs	Respond to of 35685

Bought them back for pennies...made out like a bandit! It's going to be a great day. MMMMMWWWWWWWAAAAAAA!

To: Voltaire who wrote (7578)	3/15/2000 1:39:00 PM
From: stockman_scott	Respond to of 35685

V: The Houses love days like this....IRRATIONAL fear allows the market makers to scoop us cheap shares of very high quality stocks.....Those I-banks love the churning -- make money on the way up and make money on the way down <G>...As long as there are nervous investors and Fund Managers business will be good for the Houses....The media (with the help of the I-Bank Gurus) often just feed the fire and get people to make decisions they regret later..;-) Best Regards, Scott

To: Voltaire who wrote (7578)	3/15/2000 4:59:00 PM
From: uel_Dave	Respond to of 35685

Voltaire and the other CC gurus If your calls are up that means stock is up and account is up. ; As you are aware I still have some CCs on QCOM. For Example in one account there are 20 CCs at an avg. cost of $15.5. I sold April 125s and the last transaction is $14.25 on CBOE ( bid $13.125 and ask $13.875 ). As per your statement above the call is up $1.00 from yesterday and the stock is up approx. $3. In summary: a) Received premium of $31,000 for CCs b) Debt to account of $28,000 for CCs c) Stock appreciation of 1/3 * $3 * 2000 shares = $2000 Therefore a net increase of $5000 Just a couple of quick questions: 1) If I buy back the CCs at $13 1/8 tomorrow, then would I receive the full appreciation of the stock ( Therefore: costs of calls ~$26k and the net is $5k, plus gain $4k more in stock appreciation ?? ) , but then I am still playing the casino without any hedging? 2)This CC strategy assumes forward positive movement, but not great movement ( i.e. NOK deal ) , mostly side ways for the April CCs to lose their time value, correct me if I am wrong. 3)This strategy allows you to put the premium to use, which I have with the July 140s, however is that always the case to sell CCs ATM for the next month and buy calls OTM for four months out or more or buy quality stocks during the a correction or do nothing and collect the money and then write more calls for the next month?? TIA, David