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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: Vegas who wrote (9216)	12/3/1998 5:13:00 PM
From: Herm	Read Replies (1) \| Respond to of 14162

The last two days IFMX took off like a rocket. Short squeeze made up most of that 18% increase today! It should quickly tag that upper BB at around $8.00 and settle down again. Nice percentage increase! I'm still holding 5 CCs for the IFMX Jan01 7 1/2s. Hey, if they want to call me out that's fine! I may pick up more calls for some sideshow action! I like IFMX as a long CC workhorse! BTGC should be start to come alive soon. Yesterday BTGC tagged that lower BB and had the 50% increase in trading volume. The Bollinger Bands have becoming REAL narrow between the upper and lower BB. You usually get some kind of price explosion when that occurs. I covered today my 7 BTGC CCs for Jan. 7.5s for some small gains. I plan to do another round of CCs when BTGC completes the next upward gap. A few more IFMX points and I can pick up 300 more BTGC shares for an even 1,000 shares. I just love to write 10 CC contracts at a clip! My 500 IFMX shares helped raise my portfolio margin value the last two days. No new money out of my pocket to cover the CCs. Just let the portfolio capital appreciation value increases and CC premies do the hard work. I need some money for my New Orleans trip coming up next week. San Francisco tapped me out! :-)