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: Jonathan Thomas who wrote (11114)	6/30/1999 2:57:00 PM
From: NateC	Read Replies (1) of 14162

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. Jonathan......I know you might want to hold NOVL......but you might consider letting it go for Augustexpiry.....you have a nice 20% return for that.....even tho it may be a runaway. when I try to repeatedly roll up several of mine like this....I'vebeen burned....when the stock rides back down. still, McMillan would advise you to roll up most probably. Presumably you're working with a discount broker...you could be called out...and buy it back. How much are the upstrike calls....might make a nice sideshow

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