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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Andrew N. Cothran who wrote (1548)	7/20/2001 12:58:01 PM
From: cfoe	Read Replies (1) of 5205

Andrew - I played the same game a few months ago. It can get the heart pumping. Right now I am sitting on 10 65s sold a couple of weeks ago at $1.40 (if I remember correctly). Still sitting on them. My bet is that the stock closes below $65. But if it looks like it will be closing just above $65 today, I would have a choice to let it go (stock is in my IRA, so no tax consequence) or buy back the option for the difference. What I do will depend on what I think the stock price will do next week going into earnings. If I were forced to bet, I would bet it will drift lower. Will wait until 12:45p pdt to begin to decide.

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