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To: Fredman who wrote (37708)	2/18/1999 10:57:00 AM
From: phillip	Read Replies (2) \| Respond to of 95453

I am not sure if anyone on this thread writes covered calls against stocks, but a very conservative strategy right now IMO is to buy fundamentally good stocks e.g. VTS and FGI and sell calls. One good example now is to buy VTS @ 10 1/4 and sell the August 10 @ 2 5/8. This would give you a cost basis of 7 5/8 and (if called) a 31% return in 6 months. I know there are other threads that cover these strategies, but for those OSS investors that want downside protection here, this is a good strategy.