How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Roy Travis who wrote (1802)	4/22/1997 6:37:00 PM
From: Herm	of 14162

Just to update you on USRX! This week the stock got hit with another series of down hits. The stock broke the lower support level of $46. I'm back in the hole by $ 1,200 and just did my dippy do by buying back my covered calls at 1/4. So, somebody ate $1,200 worth (lower May 55 strike price - two month out) of covered calls I doubled dipped two months ago so I grabbed around $1,800 in total in covered calls. Two of my stocks called me out! The first time in a very long time. Yes, ROST was one of them. There was a mistake in the settlement and it is being corrected by the brokerage. I will give you the final figures when they recalculate the difference in the net cost basis. I'm thinking about averaging down with USRX to lower my net cost basis and write more covered calls. The earnings report is due out soon. You want my spreadsheet on USRX I will email to you. About taking on any stock. Perhaps a few individuals may not be ready to use this approach. It's your choice. We all add our personal experiences if we survive long enough with our money. :-)

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