arsh

i think you better ask your broker what a BUY WRITE order is.

if he entered IT on friday for 1000 shares of cno and the march $5 calls it would have been for a NET debit OF $4,000 AND YOU WOULD HAVE GOTTEN FILLED.

long 1000 shares at a $4 cost that you may be selling for $5 or a 25% return for the 5 month investment.

IF cno drops 20% from $5 to $4, you are not DOWN..you are even

at any price over $5 you make 25% on your capital employed for the 5 months.

jim