How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: JimmyC who wrote (7169)	3/25/1998 8:32:00 PM
From: Ali Husain	of 14162

Hi Jimmy: I am also in JBIL and trying to repair it. I got in before the earnings at $40 and sold Mar45c at $1.00 then the stock took a major dip. I pocketed the $1 for Mar45c which reduced my cost to $39. I sold Jun40c today at $2 1/16 (by the way I sold both of my calls at much lower price than I should have), now my cost is reduced to $37. If I get called out by Jun I will make some money in this stock and if I don't get called out I will sell more calls to continue averaging down. I personally like the stock based on fundamentals and multiples. I know it is being manipulated. The option premiums are very attractive which makes the repair job easier. From this point on I will be happy if stock goes to $35+ levels and stay there, I will continue to make money in selling CC on this baby. Ali Husain

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