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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Dr. Id who wrote (1767)8/2/2001 6:00:50 PM
From: FaultLine  Read Replies (1) of 5205
 
I would hate to see this thread become one of "trading recommendations" as opposed to an options workshop.

I'm glad you raised that point -- here's how I arrived at my sell-to-open decision today.

1. I've been leery of a sudden pop in QCOM that would leave me without much time to recover before AUG expiry, thus I've not wanted to sell AUG contracts for the past couple of weeks.

2. I'm put off by the low premiums I'm seeing in the AUG contracts.

3. I've been considering the SEP 70's and 75's for the past week.

4. When duf mentioned today that he sold at 4.30 with the hope of closing out sometime in the next 6 weeks for under 2.00, well that made sense to me and was the last link I needed -- reasonable amount of premium, long enough to allow the time premium (4.30) to waste away, and enough time to catch a dip.

I think the discussions we've had over the past couple of weeks were the workshop -- now I've taken action on those results.

--dfl@gasconade.com
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