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

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To: Ofelia Cuesta who wrote (4326)9/2/1997 4:43:00 PM
From: Vol   of 14162
 
Fellow ccer's,

Wrote some VVUS Oct 30 cc's last week. Looked too good at the time. Even if I get called out I will get 26.5% return in less than 2 mo's!! (Even with margin interest and commission figured in.) Sold them for only 1 5/8 apiece, will consider buying them back if drops to 1 in the next month. Still doesn't leave me much to buy any protective puts and upstrike calls for earnings day (ala Steve). Might just ride this one out. What's your plan, Herm?

Give me a school of brim rather that the BIG Kahuna anyday,
-Vol
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