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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: FaultLine who started this subject	4/19/2001 1:44:06 PM
From: M. C. Orme	Read Replies (3) of 5205

FL and All, Thanks for starting this thread. Now all of us closet cc writers can come out without too much embarassment! I am definitely still a beginner. I started my learning curve with Getting Started in Options by Michael Thomsett, in order to work up to McMillan. I would appreciate someone explaining to me or directing me somehwhere that I may find an explanation of Maximum Pain that is easily understandable. I can't seem to grasp the concept and how it relates to expiration and price movement. I have been doing relatively well writing calls on OTM LWIN and QCOM. I usually write enough so that if I am called my existing margin will be paid off. That is the only consolation to potentially giving up QCOM shares! In the meantime, as JGoren stated, I ahve put a serious dent in the margin while still holding all my shares. I usually ben able to uncover before expiration at a small price allowing me to sleep well! Thanks to all, once again, for all the valuable posts on this and other threads. It is an incredible supplement to anyone's investment education. regards, dMCO

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