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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: David Wright who wrote (10619)	5/3/1999 1:42:00 AM
From: James F. Hopkins	Respond to of 14162

David; Thanx on the IRA info, I'll ask my tax man I just never had any reason to roll out of it, but now that you mentioned it I'll likely look for some. <G> ------------------------ As for the sector spiders, they just started them last DEC 22nd on the AMEX they are a tracking type Trust that follows certain sectors of the S&P 500, and they trade just like stocks. Here you buy the paet of the index you want, there are 9 of them XL? and ? = B U F K E Y V I P , they are cap weighted but not exactly the same as the S&P, fact is they move a little faster percentage wise, both up and down. If you buy all 9 then you have all the S&P500 but weighted in a more aggresive style. Since their inception with the same stocks, and added all together they have beat the S&P about 4%, if the market goes sour they will go down faster too. options.nasdaq-amex.com ------------------- Now it takes some time to get them figured out but after you do they are a cake walk. My biggest gripe is while they are shortable my broker often can't find shares for me to borrow. I also play the SPY ; MDY ; DIA ; and QQQ ( NDX ) they all track the indexes % wise, and can be bought at a fraction of the index price. finance.yahoo.com^MID+SPY+^spx+QQQ+^ndx&d=5d Sometimes I'm short one long another, to balance a hedge with the MDY short I often go long in VFINX ( a no load 500 fund ) as it lets me buy in the exact dollar amounts to match a MDY short, latter I leg out of one end of the hedge depending on the market direction. It's the hedge with the edge, ( if you get stuck and have to hold it ) balanced $ will eventually make a few dollars , if you leg in/out with good timing you can improve the return. quicken.excite.com Jim