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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: rydad who wrote (2144)	8/20/2001 12:42:55 PM
From: Andrew N. Cothran	of 5205

rydad: Here's my take. The market has already factored in a .25 rate cut. Current prices reflect that factor. The market will be positively (I think) surprised with a .50 percent rate cut. That is, if the .50 cut will not spook buyers into believing that things are even worse than they are. So, what do we do? I sold QCOM September 65 calls this morning for $3.60. I will hold there until tomorrow. If QCOM rallies, I will sell more calls at higher strikes. If it stays about where it is now, I will sell some October 65's at about 6.00 if I can get it.

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