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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Judith Williams who wrote (798)5/25/2001 10:37:23 AM
From: Uncle Frank  Read Replies (1) of 5205
 
>> I've been selling sebl puts lately--but not because we are heading for a correction.

Since you don't believe we are headed for a correction, your approach doesn't seem well designed to recover your position.

>> I got called out courtesy of Greenie's surprise... April 35s were called when Sebl was 45

But it immediately retraced, Judith. You've passed on some good opportunities to re-establish your position with minimal pain. Presuming you received $3 when you wrote the April 35s, your break even was 38. Sebl has traded under 40 three times since April expiry, and a buy back at < 40 would have left you less than $2/sh. out of pocket.

duf
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