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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: Herm who wrote (10087)	3/26/1999 7:37:00 PM
From: RDHickman	Respond to of 14162

Hi Herm, Woke up in the middle (I exagerate) of my night and checked SI. Good question. Missed the Service Desk by 30 minutes. Will check first thing Monday at 5:30 a.m. PST. My message could read as if I asked about a Buy-Write, I didn't. I ask if I could Purchase a L.E.A.P.S Call as a Stock Substitute? (Yes) Could I Write a conventional Call against it? (Yes) The "married" put thing was asked later, after I clarified that $19.95 plus $1.75 per contract was the same price Online or by Telephone. (A Big Savings for me.) In the list you provided showing the Trades by Online and by Telephone does list Online, Buy Call to Open and Sell Covered Call to Open, which would be separate transactions, whenever, BUT that may only be automatic IF there is REAL Shares involved. With L.E.A.P.S. ?? I will follow-up and get back to you and the Thread.

To: Herm who wrote (10087)	3/29/1999 9:57:00 AM
From: RDHickman	Read Replies (1) \| Respond to of 14162

Herm, RE: Mr. Stock question Called this morning and ask "If I purchased a L.E.A.P.S position, say a Jan 01, and later -- days or weeks -- wanted to sell a , say May 99 conventional Covered Call against the Leap, would the Online System recognize the the relationship or would I have to call it in" Answer: "The System would recognize a Covered Call against an Equity position, however, currently, the System would not "see" the relationship of the Leap to the CC. You would have to call that in to our 800 Options Desk at the same commission as Online." That is what you wanted to know, correct? Have a GREAT day! /Dick