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: virgil vancleave who wrote (11796)	11/9/1999 8:45:00 AM
From: Herm	Read Replies (1) of 14162

Hi Virgil, Sold some nice CCs on IFMX yesterday just before the news release pegged 8 contracts for the 7.5s Feb. @ 2 1/8. I was very pleased with such nice premies. If called out my nut is much lower than $7.50, I have $1,700 of new working cash from the CCs, and a long term capital gains if called out. Sideshows long calls is always a possibility. I sold 5 contracts at the money CCs on ITDS yesterday as well. As usual, you have some interesting stock picks Virgil. iqc.com ZOLT I started with this one because of the very long extended narrow upper and lower BBs using the weekly profile with a upward slant in the moving average and the beginning of a divergence (opposite) moving upper and lower BBs. A pending gap is underway. Looks like a gap to $10-$11 is possible. I will have to take a look at some long call side shows for ZOLT. CELL Looks like overhead resistance will kick in at around $10 or $11. I notice when the upper and lower BBs and that moving average all move parallel that the stock retains the upper and lower cycling characteristics for that stock. In other words, the stock goes up and then levels off and moves sideways. Cell is cheap enough to milk it as a CC workhorse with fair to moderate risk at current levels. BRKT appears to be on an upward swing cycle price wise, but, overall still in a downward to sideways direction. Again, if you can catch it right now and grab CCs at the upper BB tag you can make it work for you. The stock is still affordable for most investors.

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