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All,
Both IOM and SCH are at the top of my up trend channels so an action
on my part was in order <G>. With the strong earnings report on IOM, I
don't expect much of a pull back, so I sold slightly out of the money
covered calls, the Aug 25s, IOMHE at 1 1/8. I'd like to be able to get
most of the time premium here. With Schwab's strong move, I expect a
little pullback, so I sold the slightly in the money Aug 45s, SCHHI at 3
1/4. I won't get as much time premium, but I will get more protection in a
pull back. I'd like to cover this one at 1 or under.
Jim
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