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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Ibexx who wrote (967)	6/11/2001 6:45:27 PM
From: cfoe	Read Replies (2) of 5205

Sold QCOM July70s for $3.9 ... Good move. Here is what I have done so far this month with QCOM June CC's. Note - My both cases my timing could have been much better <g>. On 5/29 sold 5 contracts of OTM $70s for $959 net. On 6/4 sold 5 contracts of ITM $60s for $1,909 net. today, 6/11 bought both back for $141 and $741 respectively. Total in = $2,868 Total out = $882 Profit = $1,986 I sold the 60s just before the first run-up last week and admit I was concerned I had been too aggressive. But not expecting QCOM to be above $65 by expiration date, I went in knowing I might have to buy back for a small loss. However, I did expect a pullback as more and more earnings warnings came out and am relieved it turned out that way. I think Q! will close the option expiry week at $65-60. I agree. I expect QCOM to have a mini run-up over next few days, toward $65. If it bounces tomorrow, I plan on selling the 65s - up to 10 contracts. cfoe@htd.com

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