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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Boa Babe who wrote (1733)	8/1/2001 7:30:36 PM
From: Uncle Frank	Read Replies (4) of 5205

>> The share price went up a bit after hours so I may find the courage to write the AAOHNs tomorrow. I was on a plane all day, so I didn't have a chance to sell into the rally, but I have some ideas for tomorrow, thanks to Dummy Dan <gg>. I've been selling slightly atm front month calls, and generally buying them back on any dip in the last week before expiry. On the average, I've collected a 3.00 premium and closed them out at a cost of 1.00. Fwiw, I'm considerinng of writing otm and further out tomorrow. If Dan's theory is correct, and I believe it is, I will be able to close them out for about the same net gain, but will have additional safety margin in case of a short term rally. I'm looking at aaoin's (sept70s) which commanded a premium of 3.40 bid 3.60 ask at the close. Based on the ah action, I'm hoping to collect 3.75. duf

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