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To: Mannie who wrote (19327)	5/18/2000 9:22:00 PM
From: bobkansas	Read Replies (1) \| Respond to of 35685

As to question one- I am writing against about 80 to 90 percent of portfolio. I think it is unlikely these stocks will go to the moon like many of them did last year. Also, I am keeping a small amount of cash for buying back cc's if the value OF THE PREMIUM has been killed due to overall market downturns. Lately it is like shooting fish in a barrel. I have sold cc's at near to stock highs and then buy them back to close the open calls when the underlying stocks turn down. This process can be done repeatedly- assuming such is how the market is acting. Remember, this is not V's STRESS FREE way of doing covered calls. His approach is fine. I want to play the options rather than the underlying stocks. As to question two-these are stocks I already had. I have not gone out of my way to find stocks to write covered calls on. My approach is to invest in GORILLA/KING stocks (read the Gorilla Game book and follow the Gorilla thread on SI). That way the stocks I am in (while they may go down from time to time) will be very unlikely to ever be worthless in value. Hope this helps some. BOB