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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (1122)	6/20/2001 4:19:23 PM
From: robwin	of 5205

Hi Frank, I expected a worst hit <gg>...to answer your points, yes I was attracted to the relatively high premium offered for a little over 3 weeks...but, looking over NEWP's chart I think it may have bottomed out in this range...i did sell a slightly in the money call for extra protection..I do not mind holding the stock longer than a month...my breakeven is a little less $20.00 per share (excluding commissions)...If it drops to the $20.00 area, I may add another 5k (typical JP6 behavior)..and write calls for August or a later month...with $3.00 premiums offered for the front month call, (assuming they stay in that general range)...i can weather a few rainstorms, just not a hurricane... Robert

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