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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: Caroline who wrote (10288)	4/10/1999 1:10:00 PM
From: Mark Z	Read Replies (1) \| Respond to of 14162

Thanks, Caroline. With all the education I've received from this thread, its nice to finally be able to make a constructive contribution! You put it well with your bottom line. Last August I made my initial purchase of CMGI at around 79 (that would be 39 1/2 given a January split). It was the 1st internet stock for me after years of the bio techs, techs, financials and good ol' blue chips. I did NOT cover it. It promptly tanked to 40. Fortunately, I just held on. But I wonder if that hadn't happened if I wouldn't be 'bolder' about playing the stock. Still, while I've made a few dozen trades w/internets the past 8 months, I cover about 90% of them. In addition to some squeamishness over volatility, there's something psychologically appealing about the 10% per month premiums they generate.