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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: LindyBill who wrote (1746)8/2/2001 12:26:48 PM
From: Uncle Frank   of 5205
 
>> I sold just otm calls on all all 8 of my positions this morning... Got enough premium to pay my expenses for next year.

Bill, part of my strategy in writing the longer cc is so that I can close the position on a dip. As such, I don't consider the premiums I collect as mine until I buy the calls back. Only the net of the two transactions ends up in my pocket. Sometimes that has been a negative return. I'd suggest you don't count your chickens quite yet.

duf
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