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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: edamo who wrote (1741)	8/2/2001 9:58:16 AM
From: Judith Williams	Read Replies (1) of 5205

Ed-- until the trend is confirmed...let underlying be called It is difficult to let a stock be called that you have held for a long time. Of course, it's easier to do that in a non-taxable account. Recently, when Greenie lowered rates unexpectedly, I was sitting on SEBL 35 cc's, when the stock shot up to 45. I let it be called rather than cover. I then sold puts at 25 and 30 when SEBL retraced, which I have left in place, given Tom Siebel's dark remarks during the last conference call. This was my first try at selling puts to buy down the purchase price rather than rolling forward calls. Right now SEBL doesn't seem to be cooperating, but I expect some retracement. If not, I'll wait. The aim of this exercise is to get the purchase price to the mid-20s or so. We'll see. --Judith

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