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To: Carl R. who wrote (45071)	4/14/1999 11:05:00 AM
From: DavidG	Respond to of 53903

Carl, Nooooooo. It doesn't work like that at all. :-) First of all if we assumed your accounting was right I cleared 6 1/8 points on covered calls as my equities were reduce about 3 points which is a positive 3 points ...not negative. Second you only show a loss when you sell not while you are holding it. Third I toyed with the idea of selling new covered calls for May of MUEI's at 3 1/2 which again further adds to my gains but, I am waiting a bit for better prices. Good Luck Trading DavidG