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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 (10518)	4/23/1999 10:22:00 AM
From: jebj	Respond to of 14162

>A VERY interesting approach JB! OH, the more I read on options the more "interesting" ideas my brain seems to come up with! :) >So, JB your short PUT against a long CALL on the same stock would be naked according to the above definitions. Comments???? That is what I was trying to do - find a way to sell the put when I am not mnormally able to do so. As I mentioned to Nate, Preferred said I could do so but if I had tried they might not have allowed it. >It sounds too good to be true what you are trying to do JB. Make money! :) Seriously, this is not something I would do normally but I - and a couple of other people :) - expected a big rise out of IBM yesterday - - which we got. I wanted to first get the LEAPS locked up so I could then write CC's and other WINS plays against them and then be able to ride the rise. As in any options play, there are several ways to arrive at the same point but the puts were cheap compaired to the calls and selling sounded better than buying! One other point, unlike most on the thread, I am in the position to "daytrade" options - being here in front of my computer with realtime quotes and watching the market - so I can move in or out quickly when things change. Would never attempt something like that without that ability. jb