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 (11963)	12/1/1999 2:15:00 AM
From: Mike Scott	Read Replies (2) of 14162

Herm (and others), I'm relatively new at this CCing and need some help with my current situation. I purchased 200 shares of PILT at 22 3/16 last week based on a chart that showed upper BB tag and high RSI. I then sold 2 ARR 17.5C for 9 1/8. The stock has droped to 17 and the calls I bought are worth approximately 4 3/4. If I look at the weekly chart, my read is that the stock should keep coming down... siliconinvestor.com If I look at the daily chart my read is that it could rise... siliconinvestor.com Am I reading these charts correctly? My TA skills are weak at best. Should I be buying back my calls at this point? Should I then roll up or down with new calls? I am a little confused about how I treat this. I guess this is the hard way to learn. Again I'm just learning and would appreciate whatever thoughts people out there may have. Thanks in advance, Mike Scott

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