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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 (11435)	8/26/1999 6:10:00 PM
From: Dan Duchardt	Read Replies (2) of 14162

Herm, I finally climbed aboard the CC train with a write on IFMX. Sold the Jan10 for 11/16 yesterday, putting my NUT at 5_3/4 after a long term hold of the underlying. Based on the 7_1/2 price at the time I sold the calls, the NUT would be 6_13/16, so if called at 10 the return from here forward is about 47% over 5 months. I still have half my shares uncovered hoping to take advantage of a continued climb. I'm not sure which charts are most significant, but the daily chart is not showing the declining RSI, the OBV looks to be turning up, and stochastics appear to leave plenty of room for advance. Depending on the overall market of course, but breaking $8.00 looks to me like a real possibility. iqc.com Dan

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