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Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED

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To: Jill who wrote (30445)2/4/2001 3:56:25 PM
From: Mannie  Read Replies (3) of 65232
 
Whether to buy back calls in a buy/write situation is something I am trying to wean myself from, at least as a reaction to a sudden drop in an buy/write holding. When I buy them back and rewrite at a lower strike, in retrospect, I uaually wish I hadn't. So I have been attempting to make my decisions and stick with them. Now, when I buy them back and rewrite, I at least push out a month and try to write at a price that allows a balance of, recovery of equity price, and a good premium.

In short, when I buy/write and leave them alone until after the next expiration, I've done better.
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