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Strategies & Market Trends : The Options Box
QQQ 629.07+0.5%Oct 31 5:00 PM EST
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To: Poet who wrote (10793)5/11/2001 9:49:48 AM
From: smchan  Read Replies (1) of 10876
 
I'll often write a cc that's got a $3 or $4 premium and set a GTC limit order at $1 or so.

You read my mind. :-) Though I didn't realize there was a good reason for doing so, part of my plan was to set a limit cover order at around a buck on any short call. A buck seemed like a good point for covering (for some reason or other).

When you cover, do you generally re-write a call further out in time at that point? Or do you study the technicals and wait for an uptrend first?

Thanks,
Sam
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