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To: Venkie who wrote (29433)	2/8/1998 12:19:00 PM
From: Mohan Marette	Respond to of 176388

Donnie: Here is the link to a thread where they discuss this sort of thing,perhaps you can get some help from them as I am not all that qualified in these matters. Subject 12574

To: Venkie who wrote (29433)	2/9/1998 1:48:00 AM
From: LiveWire	Respond to of 176388

VENKIE, I just recently did this with JBIL. I bought it at around 34 and wrote 5 FEB40 covered call options for 1 3/4 ($875). Thought I would be safe. The next thing I know is the stock is trading around 42-43. So I bought them back at 4 ($2000) for a loss of $1183, but prevented being called out. The stock has climbed up to 45 3/8 covering my loss. JBIL is a very volatile stock, and I won't be writing calls on it again. I use ETrade. To write covered calls on ETrade, you place a 'Sell open' order. To buy them back, you place a 'Buy close' order. Hope this helps. Steven