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Technology Stocks : Cisco Systems, Inc. (CSCO) -- Ignore unavailable to you. Want to Upgrade?

To: Gerald Walls who wrote (19391)	11/19/1998 12:34:00 AM
From: Gerald Walls	Respond to of 77400

Could someone comment on my options strategy I've employed here? I'm trying to learn so it would help if someone would tell me what they think I've done right or wrong. I'd appreciated it if the word "moron" wasn't used... :-) Basically I'm long the stock, an equal number of Apr75 calls and short an equal number of Jan80 calls to decrease the cost of the Apr75s. At my current options approval level I'm not allowed to directly create a spread, so these are long calls and covered calls. I'm long the stock with an average cost basis of just above 30. Message 6466900 Message 6469897