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Biotech / Medical : VVUS: VIVUS INC. (NASDAQ) -- Ignore unavailable to you. Want to Upgrade?

To: Anthony Ostroski who wrote (10675)	7/7/1998 6:22:00 PM
From: Y2k_fan	Read Replies (1) \| Respond to of 23519

This is what I normally do for covered calls if the stocks go higher than the contracted price. For example, I wrote July 5 covered call at 1 1/4 two weeks ago when VVUS was at 5 7/8. I was hoping that VVUS sustain at sub-6 and planned to buy back the calls close to expiration date to make the 3/8 premium. Worst case is, I will let it expire if VVUS went sub-5. When I noticed that VVUS was moving to 6 1/4 yesterday, my first action is to buy the shares instead of the options to avoid the premium. That's why I get the 3500 shares at 6 1/4. Then I set a limited price of 1 1/4 to buy back the 35 contracts that I wrote. And luckily, it went through and went up immediately!! If I could not get them, I will let the shares be called and I still keep the shares that I bought at 6 1/4. That's why I have 7000 shares of VVUS now. I am probably one of the persons who triggered the take-off. My advice is, always leave enough buying power so that you have the guaranteed power to follow the same strategy and make money both ways. Go VVUS!! A little hype won't hurt.