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 (11570)	9/20/1999 8:07:00 PM
From: jaytee	Read Replies (1) of 14162

Ryan: First of all, I'm not Herm. I'm not the expert, but it looks to me that the OI on calls for NOVL indicate that the experts (or at least the masses) are betting on seeing your stock sitting around the 22.50 for the OCT expiry. In fact, they seem to think so by a 3 to 1 margin. In fact, the OI for NOV look like they see sunny skies, as well. 25.00 and 30.00 are the popular targets. This novices eyes see that you are bouncing off of the lower BB. Granted, STOCHASTICS (stink) conflict with the RSI, but the OBV is positive. It's always easy to "make the call" when it's not your hard earned money . . . (I've been there also) but if you're reaaaaalllllly getting anxious, I've always thought it reasonable to sell off a portion of holdings . . . for easy sleep at night (collect your "sure profit/premies) and perhaps, more importantly use part of the proceeds for some "insurance". Reach into HERM's toolbox and use the premies to perform some protective measures for your remaining holdings. Again, not being an expert, and NOT ever one to give advice . . . I would personally watch it another day or so and await its inevitable move . . . probably upwards and enjoy the ride. jaytee

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