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To: pham who wrote (724)	1/23/1998 9:10:00 PM
From: Sword	Read Replies (2) \| Respond to of 886

Thanks Pham. Options are better sold than bought. Experienced traders have told me that it is very hard to make a profit from buying and selling naked options. The erosion of the premium with time makes them highly speculative...unless you are selling covered calls, that is. Then time is on your side. Somewhere there is a proverb that says something like, "Better is he whose wealth grows slowly than he who receives a windfall all at once." I think it's in Proverbs 28. I'm giving up the windfall for a better chance at the steady appreciation whenever I've written an out-of-the-money option. Jerry