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I've sold April 85 covered calls for $1.30/contract. A lot of utilities are carrying forward p/e's above 15. If FE apporaches 80+ in '08 it would be approaching a 20 p/e. Nice company....but this is pretty pricey for even a good utility.
I agree. That is why I sold my shares last week.I think it is a good long term hold email@example.com