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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (759)5/23/2001 7:08:03 PM
From: JohnM   of 5205
 
You presented yourself as a novice at cc writing, but you've set this play up like a pro.

Well, I wish I had some clever reply, but none come to mind staring out at the New Jersey early evening drizzle.

If it's well thought out it's because the McMillan book really is quite good and because this thread has been such a helpful place.

I pulled the trigger, but, as always, it was not quite as good as it looked first time around. I bought shares at $14.03 and sold the option at $1.30.

There is very little money at stake this time around. Mostly just a learning exercise. I want to watch the price of options and the underlying shares over time, see what moves them. I need to understand, at least better, how options are initially priced and how their prices vary with the underlying. Then, if the market looks promising for covered call writing, start writing them with more money at stake.

John
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