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To: Marq Spencer who wrote (112418)	3/25/1999 5:54:00 PM
From: edamo	Respond to of 176387

marq...bull/bear...always opportunity.. this is the point that most miss...the sell side be it puts or calls never really loses...if stock is called from you, you have established a strike plus a premium that satisfies you...same if put to you, it is at a discount to what you can buy the common today... much confusion with options do to ignorance...no risk...no surprises...time is on the side of the seller not the buyer. the strategy that i find most comfortable is put sale long stock...bullish yes..but it allows one in a bullish period to accumulate a sizeable long position in quality issues which can and do split..in a matter of years one may have the ability to write 300-400 covered calls a month..so far out that the premium is 25 per contract, with hardly a chance of being called generates 7.5k-10k a month.. worth the risk taken to build same...you stop worrying about daily movements, you have reduced your cost basis in some instances to single digits, and have tremendous risk free capacity without tapping margin.. the numbers can get confusing when doing a demo...for as i pointed out to chuzz...you are analysing a moment in time...my advice to those who want to learn options is to read roth first...mcmillan when and if you have time...less intimidating...and succint.. thanks your comments, ed a.