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Strategies & Market Trends : Short-termSelling Puts (Covered Calls by another name) -- Ignore unavailable to you. Want to Upgrade?

To: Rocky9 who wrote (2)	2/3/2006 10:43:26 PM
From: Robohogs	Read Replies (2) \| Respond to of 66

I have not done this recently - did well with SEPR, PFE, VPHM, AMLN, NKTR, MOGN historically (into FDA trial results, approvals, patent decisions, etc). I am currently sitting on some PFE and CD shares from exercises. My one catastrophe was NWAC. AND ICOS was the main breadwinner. At current prices, the most interesting to me are MNTA and ELN, although ELN scares the bejesus out of me - I believe approval will happen but that ST expectations may be too high so would restrict to July's and earlier. I am still trying to get timing on MNTA right. And NKTR seems the safest play for now - similar to my ICOS plays. Oh yeah, I also lost moderately on ISPH. Jon

To: Rocky9 who wrote (2)	2/3/2006 10:46:28 PM
From: quidditch	Respond to of 66

Rocky, I haven't been as aggressive or had as wide a sweep as you, but have done the same with ELN 10s (a few months ago), AMLN 35s, and currently have Feb VRTX 35s, where I'm skirting with adding to a moderate VRTX position if I'm required to buy in two weeks. I also did this with Jan ARNA 15s. I think MNTA is a good idea here too. I had bought some, largely on rkrw's mention back in the fall and unloaded at 27 or so (gains and some losses where I became irrational), and bought back at $18.50 the last time it was there. The current price of $20 and change is as close as it has come since, so I'm tempted to take the risk of being added to a moderate position. Depending on how much one wants to add, this is a nice tactic in the firm BT market that has existed for the last 18 months, although I've used it mostly tactically to add some spending money. quid

To: Rocky9 who wrote (2)	2/6/2006 9:25:41 PM
From: Rocky9	Read Replies (1) \| Respond to of 66

Starting to work on March puts: MNTA 20.00 at 1.90 TRLG 22.50 at 2.50 VPHM 22.50 at 2.25 MNKD is next possibility, but I'll probably wait. Would like to have a bigger down move on something before I move on a less than 8% return. I probably am over confident, but I am willing to trade this "early" due to being up on most of the February expirations. Since I think that I will not have many Febs put to me (MNTA is the clear exception), I think that I will have plenty of new capacity.

To: Rocky9 who wrote (2)	2/17/2006 10:03:34 PM
From: Rocky9	Read Replies (1) \| Respond to of 66

Results from Feb options (all puts unless indicated) - all basically winners: In regular account: VPHM 20.00s at 1.55 VPHM 22.50s calls at .75 plus .34 increase in underlying SEPR 55.00s at 4.30 SEPR 50.00s at 2.45 BWNG 7.50s at .35 BWNG 7.50s at .40 MNTA 20.00s at .90 MNTA 22.50s at 1.90 NKTR 17.50S at 1.10 SEPR from put exercise - 50.00s calls at 4.80 less .65 price at put last month MOGN from put exercise - 15.00s calls at 1.80 less 1.02 price at put last month In IRA: VPHM 20.00s at 1.65 SEPR 50.00s at 1.40 less .05 repurchase price BWNG 7.50s at .35 MNTA 20.00s at .90 NKTR 17.50s at 1.00 less .05 repurchase price Overall 93.056% of goal, which means that I need to shoot for much more than the goal if I really expect to come close. I really doubt that I will have any months as good as this one in terms of percentage success. I had to buy back a couple of the puts in the IRA in order to free up capacity to start selling March puts. I also am not counting my sales of calls on long term positions that are meant as protection rather than short-term plays. It is too hard to determine the real gain/loss - in one case I don't want them called and in the other, I won't mind. I extended my CHS 45s for 1.10, plus 1/2 of my VLTR position for .75. My VLTR IRA calls and the other 1/2 in the regular account are too close to call. The underlying is .01 over the strike price. It will be interesting to see if the calls are exercised.