How To Write Covered Calls - An Ongoing Real Case Study! Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: Dan Duchardt who wrote (11650)	10/15/1999 1:09:00 AM
From: Mike T.	Read Replies (2) of 14162

Dan, A bit of a delayed response to your augmentation of Casaubon's thoughts. I want to share an unfortunate error an acquaintance of mine had a couple of years ago, buying and selling naked options. He had parlayed a portfolio of around $5,000 into $75,000 in just under six months. He was following the market every day, and looking at early retirement. Then came the "correction" in the market (I believe it was around August of 1997). The VIX was crazy, and waiting for a correction. He lost everything. He was naked on all of his options, and did not have the capital to cover his short positions. He had far more market knowledge than I did (or do now, even with the free food I get from this thread), but I was long on all my positions, and felt pretty good about it. Investing is all about risk and reward. I have to be able to sleep at night, so I prefer long positions and covered calls. Anyway, I know we have different investment strategies, so I guess this is a "be careful" message. Mike

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next