WRITING TRADED OPTIONS for income

Happy New Year one and all.

I couldn't not have a position, but now wished I hadn't...lol...

Short of JAN 6250 Calls for not enough premium, and also FEB 6350 Calls, also for not enough premium!!!!!

It's only £40 a point all in, so I will roll and roll until such time I either capitulate or make a profit...obviously hoping for the latter.

I'm happy to run a few short Calls against some long equity positions, so I'm not overly perturbed by the current level. However, I would hate to see the market another 100 points higher, and not getting much value on the roll.

Here's to a happy and healthy 2007.

tiltonboy