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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: surfbaron who wrote (1488)	7/13/2001 2:42:49 PM
From: Uncle Frank	Read Replies (1) of 5205

I have an admission to make. One of the reasons I've been reluctant to write Q cc's is that I've had money on the other side of the table. When qcom dropped from 65 to 62 on 6/8, my Evil Twin escaped and bought a double handful of July60s at 7. They were a loser from day one, and recently were trading under a buck. But thanks to the rally of the last 2 days I was able to escape and sold the calls for 7.50 today. That's a 7% return in 5 weeks, which by Dr. Id standards is a phenomenal success, but it definitely wasn't worth the heartburn. I agree that the current uptrend is probably not sustainable, but the earnings report may change that. If I were writing today, I'd be looking at 70s, but I'm not. duf@i'dratherbeluckythangood.com

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