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8:00 Watch CNN Moneyline.

8:30 Look at Bluebook notes some more, and some key thoughts crystallize and I write up yet another page, and check its conceptual thoroughness against my previous writings.

10:30 Realize possibility of writing call options on Microsoft stock now that TAX FACTOR Leverage is realized.

Also, am I still peeved at all with regard to the fact that I could have sold all my MS stocks Oct 12-15, and been able to buy very low lately?

No more so than I realize that such opportunities pass by me daily in the stock market, but alas, are unpredictable.

11:15 Look at Microsoft option prices, calls.

About 7% per Month. Think about 'em.

11:45 You write a call if you expect stock will increase by less than the option price during the time period.

But of course you must still expect stock to increase somewhat or at least not decrease much since you are holding it. The 7% per month for Microsoft amounts to 84% per year, but remember the stock has tripled in the last year, so it has been much better just to hold the stock. I conclude that this sort of thing may best be left to funds who can handle the paperwork and hassle.

12:00 Get ready for bed

12:15 To bed

Fri Oct 30 '87

7:00 Listen to CNN. Dow up sharply, try to sleep more. Just rest.

7:45 Get up. Shower. Misc. Dow still up.

Look over last nights writing. FINE.

Read + cut up yesterdays + todays WSJ.

Start Laundry.

10:00 Dry Laundry.

Sell 300 Microsoft bought on Monday.

Sold them at 49 3/4. Dow up 60.

To cover cost of shares and get rid of margin.