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To: Voltaire who wrote (29445)	8/18/2000 10:01:34 AM
From: SE	Read Replies (2) \| Respond to of 35685

Hope no one minds.....since I find this covered call stuff fascinating, I decided to try and walk one through real time for a while to see what I should/would do with it. I started with $100,000 and bought the following. I tried to keep the prices as close to actual as possible taking ask for buys and the bids on the options for sells. I don't have real time option quotes, so it could be scewed a touch. Covered Call Strategies Starting Equity 100,000.00 Shs BUY: ELON 37 11/16 26,381.25 700 Sept 35 5 7/8 4,112.50 RMBS 84 3/8 25,312.50 300 Sept 85 8 3/8 2,512.50 JDSU 121 1/2 24,300.00 200 Sept 120 8 7/8 1,775.00 QCOM 61 1/4 24,500.00 400 Sept 60 5 2,000.00 Portfolio Cost 100,493.75 10,400.00 Net Cash on Purchase (493.75) Cash from Options 10,400.00 Net Cash 9,906.25 Percentage from Options 10.35% Sorry about the formatting that is one thing I have never mastered here in the confines of SI. -SE PS - Since I only think I am beginning to understand the theory and nuances of this strategy, please anyone feel free to get out the 2X4 and wake me up if I am doing or do do something really stupid. It could happen! :) SPS - V...it appears I have made 10% roughly this month. Where did you say the beach was?