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 (11486)	8/31/1999 2:30:00 PM
From: Michael Hart	Read Replies (1) of 14162

What's the general rule of thumb on moving up in strike price on CC's when a stock has run up and will at least maintain the present level ? I sold CS AB's in May for $4.5 when the stock price was at $12 and the RSI was at 80. The stock has run to $16.25 and looks like it will maintain at or above $15 through the experation date. My goal is to not lose my shares, not take a loss and if possible raise some cash. CS AB's are selling for about $6.75 ( ie. $2.25 net loss ). CS AW's are selling for about $3 which would cover my loss on the AB's with a little left over and if called I've raised my take out price from $14.5 to $20( net 17.75 ). Make sense ? askresearch.com Thnx for any help, Mike

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