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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: FaultLine who started this subject	6/28/2001 11:15:31 AM
From: FaultLine	Read Replies (3) of 5205

Off to the races this morning. Isn't selling cc's a wonderful way to feel conflicted? QCOM JUL 55 I'm a quick 3 1/2 bucks underwater now as QCOM heads north to 58.45, but I'm going to hang on for a couple of weeks and see if it will take a dip , and/or the pace of decay on that 3.30 time premium I bought at last week will eventually outpace the stock rise. NTAP JUL 15 Still not writing on NTAP( rising today to 13.45). Even though the premiums have risen from a miserly 40 cents to about a buck today, they are still a little to low for me to be willing to do a write and allow an exercise at 15. CSCO JUL 20 Aging nicely -- sold at 0.65 and now slightly underwater at 0.72 but still OTM with CSCO at 18.75. MSFT JAN02 85 LEAPS A confession: I (gasp) bought these leaps a couple of weeks ago in anticipation of a bounce this month on good legal news. The expiration is far enough out that I feel confident that my risk of loss is reasonably low (but I cannot quantify it). MSFT is 70.70 today. So how are things going with everyone? Cheers, --dfl

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