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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Tom K. who wrote (7767)	6/25/1998 3:59:00 PM
From: Jim Seiler	Read Replies (1) \| Respond to of 14162

Tom, Let me clarify... I did sell a PUT (naked on Alaska Air) at 55. The stock tanked down to 46 or so and was put back to me. Then when it climbed to the late 40s I sold a CALL at the 50 strike price because the premiums were better than the 55 CALLs and I didn't mind getting called out. Had I employed your strategy, I would be holding two premiums and owned a stock at 52 (near yesterdays close) that I had put back to me at 55. However, because the stock had dropped so precipitously down to 46... I was a little nervous and decided to cut and run. Thanks for sharing your strategy... I'll work on it for a future trade. Jim