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Technology Stocks : Intel Corporation (INTC) -- Ignore unavailable to you. Want to Upgrade?

To: Burt Masnick who wrote (69802)	12/12/1998 9:41:00 AM
From: Rick Murphy	Respond to of 186894

Burt, Sorry to butt in but with covered calls the basic rule is: whatever you can buy, you can sell. For instance, INQ December 120's expire next Friday and last traded @ 1.25. You could have sold these against a long Intel stock position anytime during the past few months and right up until the close on the 18th. Generally, the next two month's calls are traded, then three months out and another three months out. To go even further, you're into LEAPS Jan 00 or Jan 01. Rick

To: Burt Masnick who wrote (69802)	12/12/1998 3:37:00 PM
From: Gerald Walls	Respond to of 186894

It's been a long time since I dealt with calls, but in my recollection the shortest call you could write (create) was six months. There are also, nine month, one year and longer calls as well with larger premiums and correspondingly greater risk. Of course if you go out to buy existing calls, the period remaining on the call could be as little as one day. Anyone who can sell a call can create one. That's why open interest changes. Also there are always options for the closest two months. With Intel the shortest three option series are Dec, Jan and Apr. There are no standardized Feb options. After the Dec options expire there will be Jan, Feb and Apr options. All the Feb options have to be created new.