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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: FaultLine who wrote (699)5/21/2001 12:50:48 PM
From: JohnM  Read Replies (3) of 5205
 
Ken,

My QCOM JUN 70's sold about 45 minutes ago at 3.00 :-)
As you would expect, they are now 3.50 :-(

Interesting. I've done some homework on covered calls now, including reading the relevant chapter in MacMillan (terrific book by the way, much better than Thomsett), and planned to write covered calls, this morning, on shares of Siebel and Network Appliance my wife and I own. However, when I saw Frank's warning about NTAP this morning, I decided to wait. And lo and behold the Nasdaq took off. So I'm waiting. My little knowledge of covered calls tells me to wait, try to sell when this buying surge is past.

I've also looked at buy/writes on NUFO, since it's a stock my wife and I eventually wish to own and it has rather high premiums (or at least did so as of Sunday night). Also holding there.

In both cases, I would not be bothered by a call.

John
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