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Biotech / Medical : Duramed (DRMD) Synthetic Estrogen Product -- Ignore unavailable to you. Want to Upgrade?

To: Anne Stehley who wrote (572)	1/10/1998 9:57:00 AM
From: Joe Allison	Read Replies (1) \| Respond to of 1837

Anne, I recently came to the conclusion one technique for acquiring stock when it is down is by selling puts at a strike price below the current market. This way you reduce your basis by the premium received and only purchase the stock if it drops and is put to you. Of course you must select stock with good fundamentals that you would want to own for the long term. Unfortunately my broker was slow to approve my account for this approach inspite of having the cash to cover. Now I have a few stocks that I bought at peaks because I wasn't patient enough to wait for the brokerage to approve my account. I am long on DRMD @ 4 5/8. Missed the profit bump around 6. Should have followed your lead. I was betting on January effect bumping it higher.