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: Herm who wrote (11110)	6/29/1999 6:32:00 PM
From: Jonathan Thomas	Read Replies (2) of 14162

Herm, I am into NOVL strong now, Nut is 20 5/8. I am short 7 Aug 25 calls. The stock has started to take off without my consent...:) Any ideas? I am thinking about rolling up, but I think my best bet is to wait until more time value decays off the calls, and wait until expiry. I'd like to hold the stock if possible, but I'll take 33% profit in 3 months and be done with it if necessary. Any ideas from looking at the chart? No real news to speak of, and the next release date isn't until Aug. 20th. I'm trying to figure out why it's gaining steam, and it looks like the top end is 28, I was hoping for a bounce off 25 (looking at the chart), but RSI hasn't topped out yet. Thanks for anything you can think of... Ryan

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