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

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To: hpeace who wrote (1469)3/22/1997 5:52:00 PM
From: Baja Don   of 14162
 
To All,

For those of you that remember, I had a friend that wrote the AMGN Feb. 60c and was in danger of being called away because th price was 62&1/2. ( 8000 shares ) So I left a message on his answering machine which he picked up and he rolled forward to the March 60s.

On Thursday the price dropped to 59 &5/8 and closed Friday at 59&3/4. ChaChing$$$$$$$$$. My friend picked up $13000.

Question- Do you think the Market Maker took the price down there to capture the premiums.

Been bouncing off 60 for two months.

What do you think?

Don
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