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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Thomas Tam who wrote (1919)	8/10/2001 11:40:48 PM
From: BDR	Read Replies (1) of 5205

<<Now some people are advocating only doing this type of strategies with strong companies. >> Your post reminded me of a story I heard from someone on SI about two years ago about another individual who amassed a fortune (millions, I believe) over several years selling all the puts his broker allowed on Cisco and using the proceeds to buy calls, also for Cisco. Cisco always went up, calls appreciated, puts expired worthless, repeat. I hope he had the good sense to quit about the time I heard the story. Otherwise he owns a boatload of Cisco and a substantial margin debt by now. What worked yesterday and is working today may not work tomorrow. Someday I, too, will learn that lesson.

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