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To: Big Dog who wrote (9345)	1/22/1998 10:11:00 PM
From: Jpres	Read Replies (1) \| Respond to of 95453

Off Topic The Big Dog, Go to this site and download the covered call calculator.... coveredcalls.com After getting beat to death the last 3 months this is my new line of thinking. Sell the calls and don't sweat it. Maybe!!! Bought FGII in DEC. for 31.50 have got my cost down to 25.00 selling covered calls. But everyone needs to trade what is best for them. Good Trading John

To: Big Dog who wrote (9345)	1/22/1998 10:24:00 PM
From: Rob Hinton	Respond to of 95453

Big Dog, ..."This is an area that I want to learn more about since it appears to be a "easy" way to make money."... Yes, it is "easy" money but you have to be careful. You want to sell your covered calls at the PEAK where premiums are higher and the sentiment is bullish. This will be reflected in higher premiums. At the same time you want to pick up some downstrike protective puts which are cheap because of the bullish sentiment. Then, as the stock pulls back you buy your calls back for pennies, sell your puts and start the cycle over again. You have to be careful because if you get exercised you may create a taxable event you don't want. Actually, with the current market it may make more sense to minimize your stock holdings and just do options if you can. Study, study and more study is critical. Start simple and small because you will make mistakes (like me!). Knowing how to repair your position when the market moves against you is a skill all must have to survive. As a side note, the folks at rightline are thinking we will be in a trading range market for part of the year and are going to discuss this a bit. Get McMillan. Thanks, Rob

To: Big Dog who wrote (9345)	1/23/1998 2:15:00 AM
From: Ms. X	Respond to of 95453

*OT** Hey Big Dog, A note on covered call writing. A friend of mine does very well buying stock, covering it and then letting it get called at his set price. He pockets the money and moves on to the next. This way he never gets emotionally attached to a stock and knows his sell target. Makes good money playing that game. Thing is you should have at least 500 shares to write. I've worked stock this way and was quite pleased. Thought I would through in my two pennies. Thanks for the continued information on these stocks. I might even learn some FA off of this :-) -Ness