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To: freeus who wrote (89273)	1/14/1999 3:53:00 PM
From: BGR	Read Replies (1) \| Respond to of 176387

Freeus, Yes, you can sell covered calls on options. These are called bull spreads. -Apratim.

To: freeus who wrote (89273)	1/14/1999 4:03:00 PM
From: Dalin	Read Replies (1) \| Respond to of 176387

Hey Freeus, my limit order hit in the last minute! WOOF! GL!! D.

To: freeus who wrote (89273)	1/14/1999 4:10:00 PM
From: SecularBull	Read Replies (1) \| Respond to of 176387

Freeus, I have a 200 call bull spread in Jan 2001 85s (+200 long calls) and 90s (-200 covered calls). I had previously bought back 25 of the 200 90s (I had sold them, covered with the 85s) giving me a net of +25 85s. Today, instead of selling the 85s taking the position to +175/-175, I just sold the 90s covered, again (+200/-200). My cost for the $5 spread is $1 (or $20,000), so if DELL is trading above $90 in Jan 2001 <GGG>, the position will net me $80,000 ($5-$1=$4 X 20,000 shares = $80,000 or +200%). Regards, LoD