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To: pompsander who wrote (4518)	12/11/2000 6:04:45 PM
From: tekboy	Read Replies (1) \| Respond to of 10714

that's clever. of course, anything would be cleverer than having a bunch of Dec calls at various strikes and holding them during this fall, like a certain moron I know intimately has done... tekboy@*&^%$#@!.com

To: pompsander who wrote (4518)	12/12/2000 2:45:39 PM
From: Brent Hogenson	Read Replies (2) \| Respond to of 10714

A recent check on the price of these options lists the Jan 40 Call at 6.5 and the Jan 40 Put at 7.0. Which means you don't make a profit until CREE reaches either 53.5 or 26.5 That is high risk, low probability, but high reward. Since I am long on CREE and beleive that the future is bright, my strategy is to hold the underlying stock and sell covered calls 30-40% out of the money. Yesterday the Jan 65 calls could have been sold at 1.125. Does anyone have an opinion on this type of strategy? I do the same thing with BEAS, PALM, QCOM, WIND and SDLI.