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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (1834)	8/8/2001 3:07:39 PM
From: Road Walker	of 5205

UF, I've covered short calls on SEBL and EMC today. Sorry, don't recall the prices, but profitable. Holding on some Intel short calls. One of the things that I also do, which really qualifies me for a dummy thread, is to buy stock that I presume will go up, with the intention of selling calls after a bounce. I have an order in for SEBL shares for that purpose right now ($30., don't think I will get filled). On the repair issue, I personally don't think there is a good solution for call sellers. You are betting against volatility, if you are wrong, you take your punishment, as with any trade. I happen to think that betting on the status quo you will win far more often than folks that bet on dramatic changes. But if you do it consistently, you will be wrong at times. That can mean you lose your shares if you are long term holder/call seller. Sometimes that can be a good thing, as I discovered over the last year <g>. John

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