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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: Pink Minion who wrote (48728)	7/5/2001 3:57:54 PM
From: Jerome	Respond to of 70976

*Stop Losses and covered calls ** I don't use stop losses. This month I sold the AMAT 50's. If need be, next month I will write either the 50's again or the 55's. If Amat closes the option period at 52 I'll buy it back at 52 and write the 55's for August. I run about a dozen positions each month. Some get called out... some don't and a few crash. (my last crash was SSTI) Last month SSTI was trading at 9 and I wrote the 10's and got called out.. (My initial purchase price on SSTI was 16. But I also wrote covered calls on it four consecutive months. But I still finished with a modest loss. Regards, Jerome