Hi V,
Yes, everything's fine. Thanks for your concern. Maybe this will be a good lesson for Newbies as well as myself. I had Bought more ELON on Monday At what I thought was a dip, in lieu of how strong it had been last week in the face of the big NAZ drop. (already have a position prev. purchased at 54 and uncovered). Went to lunch thinking I would cover when I dot back, bu watched in horror as the stock went down to 64! Well the market bailed me out I covered when elon went back to 89 yesterday. Sold the Apr. 100 @ 9 1/2.
Not as good as had I covered right away, but still 9.9% return on my cost basis. Hey, I'm happy!!! What the hell's wrong with that? Stress reduction and Income what it's about. Even after the mistake, that's still almost 120% cash flow per year on $$ invested. If you by the stock and try to time the call writing, you are playing the market and we saw Tuesday how it can turn out-thank God it came back so quickly-,may not be so lucky next time!!!
V, may largest position by an order of magnitude is QCOM- 100% uncovered. I also own lesser amounts of JDSU, NTAP, SEBL, CSC0, BRCM,ORCL, and a few others, hell I can't remember 'em all-all uncovered. The ELON mistake would not have jeopardized my retirement decision, but I greatly appreciate your concern, and I think it speaks to the character of our fine porch host to even remember and be concerned. I hopefully others just starting out with CC writing can learn from my little mistake.
Thanks,
Pinhi |
