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To: Voltaire who wrote (26815)	7/27/2000 7:56:09 PM
From: Mannie	Read Replies (1) \| Respond to of 35685

Hi Tom, When a stock you have written against goes into a plunge like many have this week...could you go through your general thought process to approaching this situation? Say you buy XXX at 80, write AUG 80's for 11...do you wait for the call value to get to $2 or so before considering buying the call back and rewriting, or would you be tempted to let it ride, as there is a lot of time for a possible recovery in share price. Or just wait to roll out into September. Are you looking at the share price, % loss, or the call price or all of the above.....in order to make a decision to act. I know you have covered these issues repeatedly, but my thoughts in this area are a little unclear right to me right now. GMST has been a dream write so far this month. How is Candide? I haven't seen much of him around here. I'd love to hear how his plan is going, tell him hi from me.Tell him to get over the Porch, he's been neglecting his chores. Thank you, Scott

To: Voltaire who wrote (26815)	7/27/2000 7:56:22 PM
From: Clappy	Read Replies (1) \| Respond to of 35685

I like the way ELON and QCOM held up today. The resistance here is pretty strong. Someone must have been buying into these to take advantage. If the market gives a relief rally tomorrow we could see a nice pop in these. Volty, Do you ever sell naked calls or naked puts? (A form of shorting a call or put contract?) It appears to be another way of using other peoples money. A person I know had mentioned that sometimes when he's very bullish, he sells Naked Puts and then with the money he receives he uses it to fund buying calls in the same company. Do you see advantages in this? Or is it better to buy calls on margin? Or perhaps use the money from the sold naked put for monthly income while his common shares cover the short bullish position. What other methods of options trading do you use? -Clappy