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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: VincentTH who wrote (10350)	4/13/1999 4:35:00 PM
From: Herm	Respond to of 14162

I even added an incentive to cover that LEAP and still no bite. Well, IFMX took off today big time leaving an easy $1,000 overnight profit on the table. I read the chart and ticks right, but, I never expected to not be able to get out of the 5 CC LEAP in time. I was much too busy at work to monitor closer. Somebody had to know about the news today. It's a jungle out there! :-) Still, IFMX hit that $9.00 overhead resistance head-on before the pull-back. Lock in IFMX CCs and consider the 10 JAN.00 LEAP PUTs @ 2 3/4 as a sideshow. It looks like $7.00 is now the bottom support level. IBM/Novell is out there in the trenches in the same market IFMX is trying to move into. It won't be a piece of cake! Take a look at the large blocks, ticks, and money flows today! There was considerable profit taking today. Money flows where out and the down tick big blocks exceeded up tick blocks. Shorting and profit taking overtones. INFORMIX CORP (NASDAQ:IFMX Last Sale: 8 21/32 +1 21/32) IFMX Trading Summary 13-APR-99 Ticks Money Flow($MM) Avg. Price Small Blocks +445 -463 +3.4 -3.7 8.9237 Large Blocks +12 -13 +1.4 -2.8 8.9646 Total: +457 -476 +4.8 -6.5 8.9343 12-APR-99 Ticks Money Flow($MM) Avg. Price Small Blocks +176 -183 +1.2 -1.0 7.0016 Large Blocks +7 -6 +0.8 -1.1 7.0080 Total: +183 -189 +2.0 -2.1 7.0045

To: VincentTH who wrote (10350)	4/13/1999 7:07:00 PM
From: NateC	Read Replies (1) \| Respond to of 14162

It is very frustrating. If you place a Buy order to split the Bid/Ask, the Bid would just move up to your limit and sit there, and sometimes the Ask would move higher! After a few times like that, I just cancel my order, wait a little bit, then place the limit at the ask. As soon as you raise your limit to meet their ask, they will adjust the bid/ask higher!!! I've been having a little luck at getting fills....even with Ameritrade......a miserable excuse for a broker........although I don't have any realtime info...and I know I should have it....but I monitor the "old" info...via Dreyfus option quote page....and then order my underlying....often 1/8 under the ask....and then sell the CC...maybe the next day, or a week later......with another limit order...generally 1/8 or more above the bid. Am I giving up too much? Should I split the bid/ask difference in half with these limit orders?