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Technology Stocks : Ascend Communications (ASND) -- Ignore unavailable to you. Want to Upgrade?

To: Xingbo Wang who wrote (23569)	11/15/1997 5:30:00 AM
From: Skeeter Bug	Respond to of 61433

xingbo, you are wise regarding covered calls.

To: Xingbo Wang who wrote (23569)	11/15/1997 12:20:00 PM
From: Carmine Cammarosano	Read Replies (1) \| Respond to of 61433

good point...however, after selling covered calls, if you hear negative new and you suspect that the stock will be under pressure for a while, you could sell your stock and go naked on you calls...this requires level 3 trading ability and strong conviction that the stock will not trade higher...you could also go naked for a short peroid of time and then close your naked position(ie buy back your calls at a lower price)for a profit...finally, you can always sell your stock and buy back your calls at the same time...