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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: Chris McConnel who wrote (15177)	3/20/1998 12:11:00 AM
From: James F. Hopkins	Read Replies (1) \| Respond to of 94695

Chris; No I cannot write a naked call, would not if I could, only covered call, but can write naked puts..must have cash or margin in account to pick up the stock if I write the put.. but that only in my regular account. I keep two..a regular and an IRA..Ira I can write covered calls..but thats all, no trade of options other than that in it. I'm thinking of writing the calls, just out of the money, but way out to jan2000..that will tie up the stock..and yeald me $7 ..payed now..and make my cost $19 so to speak, as I have right at $26 average..profit from now to Jan2000 or untill it was called from me would be 36%..unless stock is worth less than $26 come 2000..if it only worth $19 by then I'm even..if less I lose.. I already bought some calls to..paid 9-5/8 for Jan99 $16 so if stock goes up fast and gets called from me I still can call it back cost me 25-5/8 total..but that $7 is still profit..and I still have stock..but if stock don't make 25-5/8 by Jan99 I lose some on thoes calls..however much below that..but not over the cost..you can bet if she goes that low I'll be selling bonds to get all I can get.. Jim