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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Tony D. who wrote (5600)	10/23/1997 9:12:00 PM
From: Herm	Read Replies (4) \| Respond to of 14162

No Tony, There was a awesome of a large swing in VVUS price today! So much so that it triggered my limit buy to cover my NOV. 37 1/2 CCs @ 1/4. Starting around mid day VVUS started to settle down and gain some points. Based on what I said yesterday about the technicals on VVUS, it did pretty much what should happen. That is, the PUTs were being cashed in for some massive profits and the shorts started covering. The standard trader's bounce from a technical standpoint. VVUS still has to survive tomorrow and the continued market sell off. It was pretty amazing the VVUS did +3/4 points today! If everything goes well VVUS should go up slightly to $30 and perhaps pull back one more time before finally making it's way past $30. Even round numbers always seem to stall stock prices (10, 20, 30, 30, etc.) Did you see that big +5 move up after CREAF announced earnings?