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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Jeffrey Beckman who wrote (3583)3/31/2002 8:59:17 PM
From: Victoria Walley  Read Replies (1) of 5205
 
Ditto what Scott said... you have to adopt a different attitude to be successful at CC writing. You can't be LTBH and a CC writer on the same stock at the same time. If you are going to worry about a stock running away from you (in this market?) and still want to do CCs, then only write against half your position. Let the stock be assigned if it comes to it. You can always establish a new position later. Put writing requires the same discipline, you must be ready to accept assignment or take corrective action if your play doesn't go as you originally thought.

Set up your game plan in advance, including what you will do if the stock rises above (or falls below) a certain point. That will take all the emotion out of your decisions.

And it doesn't have to be a tech stock!
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