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To: AmericanVoter who wrote (3655)	11/29/1998 1:56:00 AM
From: Stephen Swantz	Respond to of 6021

Amein: The way I read Chuzzlewit is that he is writing "tongue in cheek" humor. Every once in while we sell something today only to have it increase greatly in value only a few weeks later. Alas, lost profits. Steve

To: AmericanVoter who wrote (3655)	11/29/1998 3:34:00 PM
From: Chuzzlewit	Read Replies (2) \| Respond to of 6021

Amein, a covered call writer is pleased to achieve maximum profit, which, in my case would be a stock price of $55 or better on the close of the day of expirey. From a practical point of view I would prefer that the shares not be assigned because I don't want to pay capital gains taxes. So my maximum happiness point is $55. Should the stock rise above that point I might use some of the premium I received for selling my calls to repurchase the options. For example, if I sold the call at 1 1/4, and the stock was trading at $56 at expirey I might repurchase the call for $1 and still have a 1/4 point profit on the sale of the calls. TTFN, CTC