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Strategies & Market Trends : Gersh's Option trades -- Ignore unavailable to you. Want to Upgrade?

To: Carl Worth who wrote (596)	10/12/2005 6:31:05 PM
From: Joe Waynick	Read Replies (1) \| Respond to of 652

Carl; I couldn’t agree with you more. I see little “long term” downside risk with HRB. I'm not very concerned with any “short term” correction in the stock unless the fundamental story changes. Therefore, I'm seriously considering naked PUT options at $22.50 and $20.00. Additionally, I'm considering a BUY/WRITE at $23.50 with a CC at $25. I’ll continue selling CC’s and naked PUT options until I'm either exercised or assigned. If assigned, I’ll continue selling CC’s one and two strikes above the market on part of my position because I'm adding this company to my portfolio using option premiums and dividend payments to pay for the stock. Joe