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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (95)	4/21/2001 6:51:01 AM
From: FaultLine	Read Replies (2) of 5205

1. I made money on both of those transactions as well; just not as much as I might have. 2. A surprise fed rate reduction, which was at the root of this week's improbable rise, won't happen very often. 3. With the possibility of positive momentum returning, I will not write May strikes as close in as I did this month. All three are good points (with a nice clean presentation of the financials too). On another matter though I am concerned about my earlier QCOM remarks -- there is one loose end. The QCOM CC adjustment I described let's me barely stay ahead of the game but if QCOM takes off after the earnings report (and China announcements?) I'm back in the soup again with my 60 strike. This seems likely to happen. Should one consider buying a few cheap upscale calls to catch a runaway price, say the MAY 75's @ 2.40 or MAY 80's @ 1.55? The market and QCOM are showing pretty bullish notions right now and so this is not a particularly great situation to sell into. fl

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