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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Andrew N. Cothran who wrote (1560)7/20/2001 4:09:09 PM
From: Dr. Id  Read Replies (1) of 5205
 
Sure wish I could call them like this every time.

Very impressive..Q closes at 64.50

From a different side of the pond, I've been dealing with some July puts today that were about to be assigned.

I had sold 10 SEBL July 35 puts about a month ago for $2.50. I felt safe until a few days ago (though I was mixed about assignment) but given the last few days they went in the money. In the last hour, I bought the puts back for 1.35, and sold Aug 35's for 4.30. So, same scenario for next month. Total cash taken in: $5370 (including commissions). So, if Sebl doesn't recover in the next month, either I roll forward again to Sept, or have it put to me with an even lower cost basis.

Similarly, I had sold 8 July 20 VTSS puts for $2.50. Today, I bought them back for $1.90 and sold August 20 puts for 3.40. Total cash taken in: $3113.

Again, both moves prevented the stock being put to me at this time and lowered my cost basis for both should they be put to me in the future. I am expecting both to recover at some point in the near future (which would mean keeping the premiums and not having them put to me), but am also comfortable at owning both at these prices for the long term.

Dr.Id@busydayatworknotdoingmywork!com
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