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Politics : Ask Michael Burke -- Ignore unavailable to you. Want to Upgrade?

To: re3 who wrote (83426)	9/2/2000 12:10:34 PM
From: Knighty Tin	Respond to of 132070

Ike, Heck, the Houston Aeros are world champs of some league. So, we got the Little League National champs, the WNBA world champs, and the something league hockey champs. Who needs pro football or the NHL? <g> The premiums are immensely lower than they were when I first started writing calls in the 1960s. And covered call writing is not as profitable as when they were first listed in the 1970s. I used to write 9 month calls and get called away within a month because the buyers didn't understand the fungibility of options. Oh, how I hate the OCC's educational activities. <g> The two main factors for high premiums are volatility and high interest rates. We have the first but not the second. Still, the Leaps are just huge relative to the price of the underlying issues and I love them. We have yet to see a real high rate environment with a lot of Leap contracts in existence. We may get a Leap priced through the common the next time that happens. <g>