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: Shell R. Poust who wrote (11393)	8/19/1999 7:54:00 AM
From: Herm	Read Replies (2) of 14162

Hi Shell, IFMX chart set to daily plots is forming a perfect upper and lower horizontal narrow BBs. Yep, a gap is coming sometime in the near future. Perhaps, in a week or less. iqc.com IFMX chart set to weekly plots paints a picture of continued weakness until that lower BB tag. It would seem to confirm the daily chart that more sideways gentle movement around the $7.00 level is in the cards unless the CEO drops an earnings early warning bomb. Sideways movement will bring the lower BB upward for an eventual tag with the low volatility. At that point, I would put my money on an IFMX up swing to retest the $9.00 - $11.00. iqc.com Currently, I'm still holding my second round of rolling down CCs for the IFMX Feb. 7.5s calls. I will cover soon at perhaps a 15/16s range. That will cover my capital depreciation and commissions. I may even add another 100 shares to increase the income on my next CCs when it comes.

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