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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: PAL who wrote (1929)8/11/2001 1:35:37 AM
From: Uncle Frank  Read Replies (1) of 5205
 
>> Personally, I am grateful because my original posting about CSS is to invite those familiar with short strangle to tear that strategy apart so I can learn.

Those are very good words, but they don't excuse the fact that you made the following "expert recommendations" before you bothered to learn.

>> If you read my posts and the subsequent responses by Rydad, I hope that you can conclude that "covered short strangle" is more conservative than just covered call. The spread is considerably wider before a loss is suffered.

You took umbrage when I commented that strangles were complicated, but I guess that was before you learned, too. What is even more curious is your annoyance at my "options casino" reference in light of your latest comment:

>> Of course if a person monitors closely and have some gambling blood then when the stock goes up, cover the put and sell it again when profit taking takes place and do the opposite for call when the stock drops.

I have a problem with folks who make recommendations without outlining or even understanding the associated risks. You do, too, based on your comments about "that elon cc post", but fail to realize that you are guilty of the same behavior. I'd encourage you to read the trail of incorrect and misleading statements you've left on this thread, admit your error (at least to yourself), and try to avoid doing it again in the future. I can't imagine you'd want anyone to lose money because you made an inappropriate recommendation.

>> I am removing bookmark on this thread.

Then all that's left to say is Prosperous Investing.
uf
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