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Strategies & Market Trends : Strictly: Drilling II -- Ignore unavailable to you. Want to Upgrade?

To: Joan Osland Graffius who wrote (9082)	3/7/2002 10:27:37 PM
From: cliffp	Read Replies (1) \| Respond to of 36161

Joan, that is certainly one way to play it. I have sold calls before on core holdings to add some income. But that was on stocks whose behavior I knew well enough that I felt comfortable with the limited downside protection from the calls and didn't mind limiting my upside profit. My motive is different in golds now. I was looking for a protective put approach that would provide a solid basement while not limiting any upside potential. I may be way off base here but I was thinking of using that approach at this time. Of course, if I knew for sure how long the powers would keep the lid on gold, I could time any calls to coincide with their timing. But, alas, they don't invite me to their meetings. <g>