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Post# of 704019
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Joe Stocks

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Joe Stocks

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Re: Smart_Money post# 51909

Wednesday, 12/04/2002 4:49:17 PM

Wednesday, December 04, 2002 4:49:17 PM

Post# of 704019
EP- Indeed it may be early but selling the covered calls along with the position greatly reduces some of the risk. The $1.10 premiums out just 6 weeks looked attractive to me. Downgrades are now a regular occurance so i don't see much downside from that. I also read the CEO comments about the FERC charges and believe they may have a good case in court. Selling for less than half of book and being that it was ex-div today and down not much more than the dividend, it looked fairly good risk to me for a position play.

Joe

Joe

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