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Strategies & Market Trends : Covered Calls

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To: tchphysics who wrote (64)5/19/1998 5:41:00 PM
From: Brad Griffin  Read Replies (2) of 86
 
Yesterday I dropped PWRH (low option prices) for SWW, a buyout rumored stock with a new CEO, positive news and good premiums I bought 1,500 shares at $7.50 and placed two limit orders to sell the June 7.50 at $1.50(800)and the June 10 at $1.00 (700). Today SWW closed at 7 7/8. I project SWW hitting $10 in 2 weeks. I'll be adjusting my limit orders up or down based on the price movement. I want a lot of income from this covered call play in June.
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