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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: LTK007 who wrote (13399)11/5/2000 1:02:33 PM
From: jebj  Read Replies (1) of 14162
 
>LOL! i now see the obvious--on expiration the caller takes my stock for 80k,and i am toast! like i say,i am BRAND new to this--drat there most be a way to do this:) back to the drawing board,sorry for stupid question.max - LT

As one that has been there, done that on the "fools rush in" part, may I suggest you sit on your hands until you have gone completely through Harm's course - it will be the best money you have ever spent, IMHO.

Options are not all that simple once one gets past the "there are puts and calls" part and some serious study as to how they can work and how to effectively use them takes time, I have found.

To cut to the quick and dirty, you wait until a stock is in it's down cycle and either buy the stock or calls - LEAPS being something you should take a hard look at in doing so. Then sit and wait until the stock makes it's climb back up in it's cycle and sell calls against the rise. As the stock cycles down again, buy the calls back and do it all over again.

You can also play the put side as well as other "sideshows" per Herm's program - make money no matter what the market id doing.

As many believe we are at or very near the bottom of a down cycle right now and that we may see some serious rises in the market after the election, it may be time to buy the stock/calls/LEAPS and wait for the rise.

I appolize to Herm for possibilly butchering his course. :)

Better study it for yourself - as I said, IMHO it is time/money well spent.

jb
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