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To: PAL who wrote (7779)	5/10/2000 4:50:00 PM
From: Tom K.	Read Replies (1) \| Respond to of 8096

... when you buy the stock, the naked call becomes cc... You're absolutely correct, that's why the same rules apply initially as for NP, i.e., like the stock (be prepared to own), have the capacity, don't worry about lost opportunity (i.e., don't be greedy), and monitor the situation. I'd also recommend being diversified among a few issues so that one bad one can't destroy you. Once you own it, then the rules for CC's apply..... personally.... I'd let it get called and return back to cash because I'm only trading for the income. Tom