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Technology Stocks : Gateway (GTW) -- Ignore unavailable to you. Want to Upgrade?

To: yard_man who wrote (6013)	6/16/1998 10:22:00 AM
From: Wayners	Respond to of 8002

I won't hold GTW through earnings announcement. I'll sell it the day before. I don't hold anything long through earnings announcements. Only shorts and puts. I'll buy back in after earnings, hopefully lower which is usually the case. Writing calls has to be done when volatility is peaked, i.e. when the width of bollinger bands (tailored for time till expiration) peaks in width. The idea is to write puts at or out of the money when the bollinger band width peaks at a bottom and they start to narrow again and write at the money or out of the money calls when the width peaks just after a top. Writing calls is best suited for stocks on an uptrend and writing covered puts is best suited for stocks on a downtrend. I never buy back calls or puts I've written. I'd just assume get called out because everytime I've rolled up, I've wracked more commission and spreads that pretty much negate the income.