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 (12900)	6/14/2000 12:58:00 PM
From: Herm	Read Replies (3) of 14162

Hello Virgil, I tried twice last week to place a bull call spread on CLZR. But, no takers... The immediate chart looks positive. I figured you had an in on their laser stuff and knew about their products. I noticed in my readings they make equipment for submarines and smart bombs. I will be covering soon my ALL leap spreads for the July 30s since I see in the charts a retest of the $25s for ALL. The AIG was all hype and seems to have worn off. That's fine! I will milk another round of spreads. I picked up yesterday on the cheap some 5s JAN02 @ 4 5/8s GSTRF Leaps. GSTRF, the global satellite phone operator, touched a new 52-week low of 6 11/16 this week. So, it should get some kind of rebound. The chart looks so hammered down. There is more upside than downside at current levels. A pure technical chart play. I will leg into the next half of my leap spread after I get at least a 3/4 point profit. Meets all of the chart indicator criteria. Rock bottom RSI, OBV, and a lower BBs elongated tag downward. I would think a bounce from $7 to $10 is not impossible. If Hughes were smart they would buy GSTRF at these prices and get a bigger piece of the global communications biz. siliconinvestor.com

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