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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: FaultLine who started this subject6/8/2001 1:51:08 PM
From: Uncle Frank  Read Replies (6) of 5205
 
Dummy Alert!

I reported my sale of sebl June 50's for $3.20 on Wednesday when the underlying was at 51. Today's dip offered a nice opportunity to unwind the position at $1.40, keeping most of the premium and clearing the decks to write the July series if we get a bounce. In summary:

6/6: wrote sgwfj @ 3.20
6/8: bought sgwfi to close @ 1.40
Net* = $1.80, a 3.5% return based on the price of sebl at the time of the sale.

* Ignoring transaction costs which were nominal due to the number of contracts sold. Since this was in a sheltered account, there are no tax implications.

Now my household expenses are covered for the month :-).

duf@moneyfornothing.com
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