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: Chuck Molinary who wrote (1593)	4/5/1997 10:43:00 AM
From: Wade Geary	of 14162

I have been trading covered calls using the Wade Cook program for about 6 months. I agree that Cook oversimplifies cc writing. He assumes that his stocks will eventually go up and you will be called out. This has not happened lately during the downturn. Probably 8 out of 10 of my stocks have skidded significantly, so much that my principal is severely depleted. I would be interested in how you handle declines. Do you set stop losses and get out of the stock and option if it drops a certain percentage. Any information any of you can give me in this regard will be greatly appreciated. Also I recommend a paperback book, Sure Thing Options Trading by George Angell as a good introduction to options in general and covered call writing.

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