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To: rudedog who wrote (137537)	6/18/2001 12:10:38 PM
From: Elmer	Respond to of 186894

As I said above, this is just my somewhat simple minded way of working calls, and anyone getting into the game should do paper trades for a while to get comfortable with the way options move, and to assess the likely results of whatever plays they want to make. Rudedog, your CC style is very close to mine and your perspective is very close as well. You are obviously a very bright fellow.<g>

To: rudedog who wrote (137537)	6/18/2001 2:50:50 PM
From: jackrabbit	Read Replies (1) \| Respond to of 186894

Rudedog -- Thanks for your covered call strategy thoughts. I generally write 3-5 weeks out, and maybe cut my strike price a little farther from the market price than you did in your example. I like to hear how other people do CCs -- not for advice, but just for information. A lot of people worry about losing upside potential. I remember one time I wrote against my INTC and then it made a major move up. I just rolled "up and out" and bought back in my earlier calls. I had originally sold, say, 10 Januaries, but I was able to buy them back by selling 8 Februaries at a higher strike. It took me 2-3 months, but I finally got to a point where my remaining outstanding calls expired worthless and I still got to keep the entire original premium. Historically, INTC has moved in spurts, followed by long periods where it did nothing. I think an INTC holder (i.e. one who intends to hold through thick and thin) can make some decent change writing CCs every month, collecting premium during the dead periods, and then start rolling "up and out" and stop selling new CCs during any rising periods. Regards, jackrabbit