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To: Larry S. who wrote (36522)	1/2/2002 4:35:10 PM
From: BWAC	Read Replies (1) \| Respond to of 53068

Sure, Larry. This 1000 of SLR was bought at $11.50. I'm not ready to turn it loose yet at todays prices of $11.80ish. I wouldn't mind selling somewhere around $13. The Jan $12.5 strike price Call can be sold for 50 cents. Or $500 for 10 contracts. I collect the $500 now, I am obligated to sell SLR at $12.50 if the option buyer so wishes anytime between now and Jan. 18th. Approximately 1/2 month or 16 days away. Several ways to calculate a return depending on one's preferences: 500/11,500 = 4.3% return on investment (I like this one) 500/11,500 = 4.3% X 360days/16days = 96.75% annualized return. Or if called away 12,500 plus 500 = 13,000 less 11,500 = 1,500. 1,500/11,500 = 12.9% ---------------------------------------------- Now a good trader might be able to flip SLR around for 16 days and make a whole lot more than $500 or $1500. But the covered call is a definite cash income, which is what I wanted from this particular trade.