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Pastimes : Play It On Paper- Clappy's Newbie Option Thread -- Ignore unavailable to you. Want to Upgrade?

To: David Cecil who wrote (72)	7/26/2000 9:39:22 AM
From: hlsjones	Read Replies (1) \| Respond to of 176

David No pardon necessary - we all gotta learn this stuff. Nobody I know has a handle on all of it. NERVER, NEVER, NEVER sell a naked call. Not in this market you could get murdered. Covered calls is the way to sell and yes you must own the stock or deep in the money leaps to write covered calls. You could create a bull call spread if you think the stock is going up but a "bull" put spread is better. With the bull put spread you take in money. Note the word "bull". Very important here. You must really be bullish on the issue not just a gut feeling. Try write down the reasons you make a trade before you make it. Always have a reasonable idea of why you think the issue is going to move. Harry