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Politics : Formerly About Advanced Micro Devices -- Ignore unavailable to you. Want to Upgrade?

To: Elmer who wrote (100610)	3/29/2000 2:24:00 AM
From: Paul Engel	Respond to of 1571808

Elmer - Re: "On a seperate note, I closed out my short position in April $37.5 puts and sold April $45s instead. I took the premium and bought more AMD shares which I then sold CCs on. I'm picking up a rather respectable holding in AMD which I have never invested a single penny of my own money into. Assuming my April $60 CCs hold, I will sell more CCs for May as well as more puts and use the premiums from both to buy more shares and sell more CCs and buy more shares etc etc. Zero out of pocket while these guys loose on their long calls." This is a great pyramid scheme. However - a bunch of the AMDroids are loading up on April $60 AMD calls - and that usually spells the kiss of death. So maybe your Covered Calls will be "safe" ! Then again, maybe AMD will have a blow-away quarter - and the stock will go the "maroon" !! Paul