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To: Bazmataz who wrote (20082)	4/22/1998 11:07:00 PM
From: drsvelte	Read Replies (2) \| Respond to of 95453

Baz: ...With a premium of 3/4 and stock price at 24 3/16, I don't get 13 or 15%.... I didn't check the premies so I assume these are right. If you don't get called, your gain is about 3% till expiry. On an annualized basis this is about 36%. Double that if on margin. If MDCO takes off, you still get the return, but lose the opportunity profit. CC writing is not spectacular, but steady.

To: Bazmataz who wrote (20082)	4/23/1998 7:37:00 AM
From: SJS	Respond to of 95453

BAZ, I said "There are good percentage moves...." GLM wasn't one of these... I sold the GLM calls because I wanted to purposefully move some of the position into other things. I didn't do that at the 13-15% I mentioned, the premium of 3/4 is just a sweetener, I hope. At this rate, I may not even be called.....<g>!! Because GLM has been trading in such a tight range, the volatility is down. That minimizes the call premium. I suspect that GLM will be over make and hold 26 by the third week in June, but not by much. It's a tough call. Ask yourself if this is income, or you want to give up your stock. Look at the 27.5's for income for June for probably under 1.