To: FR1 who wrote (32323 ) 3/3/2001 10:05:31 AM From: im a survivor Respond to Not to answer for ed....but I did very similar things.....although not on atml. I did write 02 leaps on several of my issues. My criteria was they had to pay 15 - 35% or more in premium upfront ( I think I got 13% on one stock,,,got 45 on another ) expire between aug 01 and jan 02 and strike must be at least 100% higher then surrebt price. In some cases I got 20% premium and strikes that were 150% higher. The higher strikes give me a buffer and some room to run and the ability to roll up much easier if we have a huge rally.....in the meantime, since I was not selling these beaten down issues, I wanted to generate some capital....writing month to month itms I didnt want to do so low...the key was the strike....I want higher strike prices if we are bear a bottom...and premium....to get the premium I wanted on otm's, I had to go to aug - jan. Anyway, I collected a nice penny, and only have to worry about rolling up if these stocks go up 100 - 150+%...a problem I wont mind happening. Additionally, several of the leaps I wrote I can currently buy back for half what I got to write earier in the week on a little pop.....I am not buying back now, as I wish to see how things play out first....why buy my jdsy 60's or 70's back when we are a long way possibly from seeing that price......if I think we have seen a definative botom, I may buy certain leaps back depending on each individual situatiom....I did not write leaps on atml or my other stocks I consider to be already very undervalued, but may if we see a decent rise......I may cover atml if she rises to $18+, but then again, even at $18, she is still a good value, so maybe I wont write.....we'll see...
