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To: DepyDog who wrote (31387)	8/31/2000 4:24:32 PM
From: Mannie	Read Replies (3) \| Respond to of 35685

Good thinkin Dep...If you are going to be writing cc's as income producer, you have to be ok with leaving money on the table sometimes. I like hearing about your pond, I am building one right now for a client...a tiny one. Love those Shibunkins.... Scott

To: DepyDog who wrote (31387)	8/31/2000 6:06:57 PM
From: RocketMan	Read Replies (2) \| Respond to of 35685

Right on letting it run until close to expiration, as I have learned from a lot of books and a few mistakes. If a stock is running, and you roll up early (buy the call back at a loss and write a higher strike at a higher premium) you are taking the chance that the stock will run back down and leave you at the top, having to roll down to keep your vehicle intact. Better to wait until close to expiration, when most of the time premium is gone, and then decide whether to get called or to roll up and/or out. That also gives you time to figure out if the rise was based on fundamentals or just a quick pop that wilts again. OTOH, if the stock is diving down, it is important to roll down every time you start going into the loss zone, because after that point you are losing money. Even if it pops back up, and you get called or whatever, at least you have not lost if you rolled down, you are at worst even. rm@guessallthosebookstaughtmesomethingafterall.com