                   OPTION WRITING                                               
tHIS PROGRAM COMPUTES SOME USEFUL TOTALS FOR POTENTIAL                          
OPTION WRITERS. tHE USER OF THIS PROGRAM WILL GENERALLY                         
BE A RATIO WRITER AND WILL SELL A FIXED NUMBER OF OPTIONS                       
AS WELL AS BUY OR SHORT A GIVEN NUMBER OF SHARES OF THE                         
UNDERLYING STOCK. uSING THIS PROGRAM HE WILL BE ABLE TO                         
COMPUTE THE MAXIMUM DOLLAR PROFIT HE MAY REALIZE, THE                           
DOLLAR INVESTMENT REQUIRED FOR THE DEAL, THE MAXIMUM                            
RETURN ON INVESTMENT, AND THE UPPER AND LOWER BREAK                             
EVEN POINTS OF STOCK PRICE FOR THE DEAL.                                        
                                                                                
PRESS ENTER TO BEGIN ?                                                          
INPUT C IF OPTION IS CALL, P IF PUT   ? C                                       
ENTER NUMBER OF OPTION CONTRACTS SOLD      ? 246                                
ENTER PRICE PER OPTION                     ? 57.31                              
ENTER TOTAL COMMISSION PAID ON OPTIONS     ? 937.43                             
EXERCISE PRICE                             ? 789                                
# OF SHARES BOUGHT OR SHORTED              ? 42956                              
PRICE PER SHARE OF STOCK                   ? 234                                
AV. COMM. ON ST. SHARE AS % OF SHARE PRICE ? 12                                 
DIVIDENDS PER SHARE PAID BY STOCK          ? 1.23                               
MAINTENANCE REQUIREMENT                    ? 75                                 
MAXIMUM PROFIT                  = 20029025.89                                   
INITIAL INVESTMENT              = 9849094.91                                    
MAXIMUM RETURN                  =     203.36 PER CENT                           
UPPER BREAK EVEN POINT          =     -354.31 PER SHARE                         
LOWER BREAK EVEN POINT          =     259.15 PER SHRE                           
                                                                                
PRESS ENTER TO CONTINUE? -1                                                     
