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Non-Tech : The Critical Investing Workshop
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To: donaldwd who wrote (6323)3/7/2000 9:43:00 PM
From: Voltaire  Read Replies (1) of 35685
 
Hi donaldwd,

No, you never buy calls back after the fact. Now, if you have a great reason for buying back before the 100 point rise, that is different. I bought back my calls the day after the 4 for 1 because I believed in the dynamic. Hell, I still own my April 130's that I wrote on shares before the last earnings when I went to Florida. NEVER BUY BACK CALLS, WHY? Because in most cases no one is that good at predicting the market and now you are back to playing the market again. See on that 100 point rise, provided you sell the shares before expiration one would still pick up about 30 points of that appreciation ( the hardest thing for people to understand) even though they were covered. Remember, we write for CASH, INCOME STRESS REDUCTION and something that comes in handy, DOWNSIDE PROTECTON.

V
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