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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 (12313)2/4/2000 1:02:00 PM
From: PeterCS  Read Replies (2) of 14162
 
To All;

I know there are people on the thread that use " write naked puts" and are good at it. I would like some opinions on the following if I could.

I wrote a CAT Feb 50 put @ 4 1/4 a while back. Now it is at about 8 1/2. I know the books say either exercise in a few days and start from there, or buy back for a loss of 4 1/4. I was also wondering about rolling out a few months, maybe at the same strike price for around 9 and wait to give myself some more time for CAT to recover? At lease I will not be taking the loss.

The other point is I am not losing anything by waiting. No money tied up,just money added into the account.I feel CAT will turn around and start to go higher, I am just early. Famous last words.
any help will be appreciated.
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