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Pastimes : The Naked Truth - Big Kahuna a Myth -- Ignore unavailable to you. Want to Upgrade?

To: wlheatmoon who wrote (19853)	2/16/1999 3:34:00 PM
From: yard_man	Read Replies (1) \| Respond to of 86076

by way of disclosure MKC -- I did the NEM covered write some months back and am still holding it -- just 100 shares as I have other golds. I am in the process of changing brokers, my broker doesn't allow the "naked" sale ... this is really quite sill if you think to compare such a sale with a simple limit order -- there is certainly less risk with a put sale ... If NEM is still around 20 when I get the switch done I may sell one or two, but probably no more than that. I wouldn't sell a lot of them. I think the way to think about it is consider the cash you would have to expend to purchase the shares outright if put w/o margin and how that fits in your overall weightings within your portfolio ...