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Technology Stocks : Creative Labs (CREAF) -- Ignore unavailable to you. Want to Upgrade?

To: Howard who wrote (9237)1/30/1998 11:18:00 AM
From: Power ranger  Read Replies (3) | Respond to of 13925
 
I wrote some july 25 cover calls yesterday.

At the start of yesterday market when creaf was at 17 5/8, the July 25 calls was at 1 15/16 / 2 3/16. Never tried cover calls before so decides to give its a go. I sold 50 contracts collecting a premium of $2. Try to get more but was not given.

Just checked the option again today, with creaf trading at 19, July 25 drops to 1 13/16 / 2 1/16.

Any comments? A bullish sign???

PR



To: Howard who wrote (9237)1/31/1998 12:33:00 AM
From: Ben Beale  Respond to of 13925
 
Howard,

You've done well then. I bought at about the same prices as you(15.5-16.5), and sold the 17.5's when they were at the money, thinking we'd see continued volitility and, of course, that I could get my calls back on the cheap. One good bit of bad asian news (a Japanese or Korean bank or brokerage insolvancy would do nicely) and I'll be OK.

r/s
Ben


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