Hello Pat,
First, let me address the gist of that very old message.
"I write covered calls with as many as two turn per month
each." It is possible to stage your calls or leaps spreads
writing to do as many as two round per month on fast moving
stocks. What we are talking about is a stock price that
fluctuates up and down within a price range within a month
worth of time. Example, from say $40 to $45 dollars. Some
may even refer to those stocks as "rolling stocks." Here is
a link for rolling stocks topics and he even has a free
newsletter on the subject.
Rolling Stocks Newsletter
coveredcallswins.com
So, what I was indicating at that time was my interest in
doing as many rounds as possible by writing covered calls
at the stock's peak, allowing that stock to drop, covering
cheap, adding more stock to average down my net cost basis
using the CCing premies as well, and then riding the stock
up again with perhaps another round of CCs. Again! This is
only done on certain stocks and not all.
IWOV
coveredcallswins.com[H,A]DALLYYMY[DF][PD24,2!C20][VC60][IUB14!LG!LC20]
You timed your entry into IWOV very well. Good lower price
support at $20, low RSI below 50 with the upper and lower
BBs starting to level off, leveled off OBV. It may not hold
and retesting of the low may come again. CEOs looking to get
out by all the selling that has occured. Take your profit at
$30 and run, run, run!
QUICK OPINION ON IWOV
coveredcallswins.com
NASDAQ: (IWOV : $28 15/16) $2,792 million Market Cap at
January 11, 2001 Loss Expected for 2001; Software &
Services SubIndustry priced at 44.1X PE
Filed by Title Action Shares Price Trans. Date Holdings
BRAUNS MARTIN W CE Sale 50,000 75.56 - 113.88 11/02/00 -
11/27/00 2,293,385
GOULD KATHRYN C D Sale 40,000 108.29 11/01/00 167,700
RUCK JOZEF VP Sale 30,000 77.22 - 117.50 11/01/00 -
11/27/00 364,821
BRAUNS MARTIN W CE Sale 30,000 95.00 - 117.88 10/25/00 -
10/31/00 2,343,385
THOMPSON MARK C D Sale 18,000 123.00 10/25/00 0
1 Year Short Position Summary Month Short Interest Pct.
Chng Avg. Volume Days to Cover
Dec 00 2,021,006 +116 2,134,160 1
Nov 00 934,322 +28 1,420,297 1
Oct 00 743,492 -3 1,388,792 1
Sep 00 770,138 -50 773,599 1
Aug 00 1,531,364 +6 887,194 2
Jul 00 1,440,290 -4 1,489,778 1
Jun 00 1,503,040 +74 576,699 3
May 00 864,508 -6 550,214 2
Apr 00 959,580 +85 531,278 2
Mar 00 518,996 -35 555,195 1
Feb 00 796,772 +121 452,436 2
Jan 00 361,024 +158 114,362 4 |
