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Technology Stocks : All About Sun Microsystems -- Ignore unavailable to you. Want to Upgrade?

To: Sonki who wrote (11486)	10/30/1998 2:23:00 PM
From: Alok Sinha	Read Replies (2) \| Respond to of 64865

I usually sell covered calls one or two months out with a strike price 3 - 5 dollars out of the money (close to at-the-money if the stock has had a big run-up.). If the stock tanks I sell (in or at the money) naked puts to accumulate more shares at a lower price. Once in a while I do buy puts on my positions if I have a large exposure and the stock is trading steady in a range(that way put premiums come down). I am looking to buy back my 55 Nov calls soon (even if I have a small loss), the fact that I sold the Nov 60 calls at 2 1/4 yesterdays allowsme to offset that. Regards Alok