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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Dr. Id who wrote (3777)	5/29/2002 5:20:03 PM
From: Dan Duchardt	Read Replies (2) of 5205

FWIW, I passed up a .50 uncover on some SMH MAY40 I had sold for 2.50 last month. I was eventually called out, which was fine as it turned out, but if I had bot for .50 I could have sold again for around 4, or more. I also sold some JUL42.5 for 3.20 that I uncovered today for .75. I might regret that, but not as much I would regret seeing a couple more upside gaps wiping out my profit. We could get more of those any day now. I missed a couple of other buy backs on some spread positions too and saw some potential gains turn into losses in the overnights, so maybe I'm just a little extra paranoid at the moment. What do you think the chances are of making another .20 on the SEBL. What do you think the chances are of them doubling to about .80 by .90, or tripling? I do think the longer term expiration for the higher premium is a good move on those OTM calls. Good luck with them. Dan

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