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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: PAL who wrote (1869)8/9/2001 9:02:00 PM
From: William  Read Replies (3) of 5205
 
Hi Paul -

Excuse me jumping in here, but I think you may have misunderstood what Uncle Frank was getting at.
He did not say anything about the thread becoming a casino, or address the risks and gambles of options trading. He said that he would not like to see this thread become a general options thread. There are other SI threads that deal with options, much more advanced then what you find here. From this thread header:

This is the place to post your thoughts, questions, and comments on how to use covered calls to generate enhanced yields from your tech investments.

The thread is geared, as its title suggests, to beginners and/or those interested in relatively simple and straightforward strategies.


While a covered short strangle may be a fine investment option, I personally think it goes beyond the scope of simple and straightforward strategies. It might be a better approach as far as this thread is concerned to direct readers to a more advanced options thread if they are interested in learning about such things as CSS.

I must disagree with your statement If a person limits his/herself into covered call he/she must know the direction of the market. I disagree with anyone that makes a statement IF INVESTOR ... THEN MUST...

No one can KNOW the direction of the market. Yet many only do covered calls. I myself like to keep it simple. I may not make as much money, have and will lose some at times, but I choose to avoid getting fancy. For one thing, I work in an IRA account, and many advanced options can not be done in an IRA account.

Thanks for your time, and best of luck to you as well.

William
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