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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: Greg Higgins who wrote (10409)	4/16/1999 10:00:00 PM
From: jebj	Read Replies (1) \| Respond to of 14162

Is anyone using or know anything about PREFERRED CAPITAL and their DELTA TRADER software? They are set up as a daytrading company but after talking with them, they seem to be as or more flexable on options than most out there. Their software lets you pref. which exchange you want to trade on if you desire or it will go to the best bid/ask at the time. Tks jb

To: Greg Higgins who wrote (10409)	4/16/1999 10:01:00 PM
From: Caroline	Read Replies (1) \| Respond to of 14162

Based on the ellipses in the quote, I'd say that has to be a Captain Kirk line. Am I right?

To: Greg Higgins who wrote (10409)	4/17/1999 12:33:00 AM
From: NateC	Respond to of 14162

Greg.....Good & Helpful Post!!

To: Greg Higgins who wrote (10409)	4/17/1999 1:37:00 AM
From: FruJu	Read Replies (2) \| Respond to of 14162

Thanks Greg, That was a very informative post on LEAPs. So your general strategy is to always roll, unless you're very deep in the money. How do you define "very deep" in the money? I presume that even if the NUT is above the short strike price and you're not expecting the stock to continue to take off, you'll pay to buy back and roll out to get the time premiums (this seems to be somewhat different to Herm's strategy which is to be conservative enough that you would always allow yourself to be called out with a profit). Do you use the protective upside calls and downside put protection?

To: Greg Higgins who wrote (10409)	4/20/1999 11:12:00 PM
From: Greg Higgins	Read Replies (1) \| Respond to of 14162

I wrote: Speaking of Nut, how I calculate it: Cost to buy LEAPS 11,638 FEB Series 238 686 MAR Series 388 811 APR Series 961 ----------- --------- 12,264 2,458 Simple Return 20% Annualized 80% Market Value LEAPS 9,400 (Current Bid) ----------- ---------- 12,264 11,858 Actual Return -3% Isn't the market wonderful, my underlying took an upswing today, and closed just below 59, but midday took a long enough stab at 60 for my order (entered this am) to get filled. Cost to buy LEAPS 11,638 FEB Series 238 686 MAR Series 388 811 APR Series 961 May Series 823 ----------- --------- 12,264 3,281 Simple Return 27% Annualized 81% Market Value LEAPS 10,550 (Current Bid) ----------- ---------- 12,264 13,831 Actual Return +12% Note that the underlying is about $1 less than it was when it first caught my eye in January. It's down 2% over all, I'm up 12. Gotta love it.