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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: FaultLine who started this subject	7/10/2001 8:00:31 PM
From: JohnM	Read Replies (2) of 5205

Anybody else following Gemstar ccs right now? I wrote a July 40 on the basis of two things. First the trading range is between, roughly 35 and 44, and second, I thought general market bad news would keep it below the 40. And, third, just to complicate this twofold, if I lost them, I expected to be able to rebuy the shares below 40 sometime later this summer. Again, market going down at some point. Now, it's unusually strong. Nasdaq goes down; it goes up. Even struggled against a reasonably strong down tide today. Looks very strong to me. As always with this stock, I can't figure out what's driving it, unlike Qcom which is relatively clear. Anyone have any ideas? And, just to keep it on topic for a cc thread, do you think whatever you see is likely to drop the premium down to a magic $1 or so. A long way to go right now. Last time I looked it was in the upper $3s. John

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