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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: FaultLine who wrote (1)4/19/2001 9:24:00 AM
From: gingersreisse   of 5205
 
Thanks for opening this thread.

As a generally long term investor who looks for an opportunity to leverage holdings, income from covered calls has been welcome. I've written calls regularly on high volatility stocks I own (BRCD, NTAP, GMST, SEBL, etc).

I wrote the SEBL april 35 call / 35 put combo against a few hundred shares in my trading account (about 25% of my SEBL position). Pocketed about $6.50, and expect to have the shares called. Also wrote the August 35 at 8.

I bought shares at about 36 in the after market to cover my position. I expect to have all the shares called, the April shares called will give me $5($6.5 premium less comm), the Augusts should give me about $6.50. The shares against which the calls were written were purchased recently, and will be a short term gain, it's nice to have a gain problem again.

GSR
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