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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: FaultLine who wrote (431)	5/4/2001 8:57:29 PM
From: cfoe	of 5205

, I'll try to remember the smile on my face this morning when I saw this damping effect in action I am not sure I understand everything you wrote in your post, but I can say that writing cc's has produced a similar result for me. Now when QCOM goes down, I use the opportunity to make more money in my cc's. For example, I had a "good till filled" order to buy back my May $70s at 40 cents (sold them at an average price of $3.888). On the dip this morning, the order filled. Then when the stock moved back up I sold an equal amount of May $65s for $2.20. BTW - I am willing to lose the stock at $65 per share (50X '02 projected EPS). If it happens, I fully expect I will be able to buy back the stock for less than $65.

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