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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: William who wrote (1630)	7/26/2001 7:54:47 PM
From: alanrs	Read Replies (2) of 5205

I've been buying and selling the CREE Dec 25's, 30's, and 35's. Something called a "ratio call spread" that Dan Duchardt showed me. However, since I have CREE in multiple accounts it's gotten a little confusing. The main play is to buy the 25's and sell the 30's and 35's. In two other accounts I've also been selling the Dec 25's and buying them back and selling them again. Knocking on all the wood I can find, I've made a hell of a lot of money the past 4 days doing this. I've gotten very lucky with my limit orders both ways, and then it rained yesterday and I was home just in time to buy everything back about 1/2 hour before the market turned. Right now I have 4 CREE dec 25's and sold 4 CREE Dec 30's. Am trying to sell 4 Dec 35's to re-establish the position. Also hoping QCOM makes a serious move here. I was a little reluctant to sell much with spinco in the wings, but with that done with I'll look for $75, or if it looks like it's stalling at $68 I'll find something there. Would love to sell SEBL 40's, but there isn't much money in it yet. Wanted to publicly thank Dan. He's been very helpful. ARS

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