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To: Jimbo who wrote (108499)	9/15/2000 7:51:39 PM
From: Danny	Read Replies (1) \| Respond to of 164684

Jimbo, to be a successful ccs writer in a volatile market, you basically have to time the market's short term movement well, which is contradictory to the original ideal of covered call writing, ie, to get the time-premium money on a slow market. I am not saying your ways of doing it can't be profitable. In fact, it seems both you and James are doing well with this strategy. The covered call writing, just like any other strategy, can always work if you use it correctly. I am just saying that in the volatile market like today where a stock goes up and down 20 - 30 points in a blink of eyes, this stratgey is somewhat less effective. For example, writing DIM calls is suicide if the stock suddenly goes up crazy (like CMRC), and writing DOM calls is useless if the stock tanks crazy (like PRIA). The problem becomes how to time the market so that you know which to write. I would rather buy calls/puts in this kind of volatile market if I could time it well. Anyway, this is just IMHO. Danny