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To: elpolvo who wrote (8213)	3/20/2000 4:16:00 AM
From: lurqer	Read Replies (2) \| Respond to of 35685

will the REAL april 135 call for qcom please step forward!? What you are seeing are suffixes that refer to the different option exchanges. e.g. CBOE, AMEX, Philly, Pacific. Sometimes you can get a slightly better price at one exchange over another. Some brokerages allow you to specify which exchange, many don't. Usually, you just enter AUADG and the brokerage decides the exchange. We're all watching and rooting for you. lurking... lurqer

To: elpolvo who wrote (8213)	3/20/2000 4:46:00 AM
From: elpolvo	Read Replies (5) \| Respond to of 35685

READ THIS POST! POLVO BEANO - GUINEA PIG (1) thank you. this is chapter one of "polvo beano - guinea pig". if you're not interested that's fine too, but it's a real life example of a wild rookie at work in the covered calls game and some dangerous examples of what NOT to do could be revealed. 1) i transferred my assets from datek to accutrade so i could trade in options. 2) i hold 500 shares of ELON and 2300 shares of QCOM... it's fully margined so half of it belongs to the brokerage house. 3) additionally, i owe 25K of it to uncle sam for 1999 taxes on april 17 and 50K of it to various friendly visa and mastercard vendors (my heroes). 4) my plan is to reduce my margin to near zip by selling 1300 shares of the QCOM (not a big tax pain - my basis is high), pay my 25K taxes out of the margin available, i'll not pay off the borrowed credit card funds (because i can profit more from the 50K with CCs than it costs me to use and i'll write calls on the 500 ELON, and 1000 QCOM (i like them both and i figure the diversity gives me a little safety - i could be wrong here - speak up if you think i should stick to one vehicle for the CCs). i should gross around 18-19K from the call premiums which will put me back down to having very little margin extended if i just continue to live off my regular income this first month and not spend the premiums. (i want to be careful in the margin department as i learn the ropes here). 5) my recent and forward looking philosophy in incurring taxable gains is to ignore them in trading strategy and pay them as they're due. if i pay more taxes, it means i made more money and the debt is settled now. i miss too many opportunities by worrying over tax consequences. 6) quick porchies, shoot down my plans before i actually do this. don't pipe in later with, "you shouldn't have done that" after it's too late. -polvie