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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Andrew N. Cothran who wrote (2004)8/15/2001 2:09:20 PM
From: Uncle Frank  Read Replies (2) of 5205
 
>> today it looks as if "the big boys" are determined to close QCOM on Friday at 65 or below so that all those thousands of 65 call options will die a worthless death.

You've constructed a very credible scenario, Andrew. Based on the string of upgrades and confirmation of qcom's positive outlook, I'd consider them trading below 65 as artificial constraint, and expect them to bounce after expiry. I also note the high probability of a fed rate reduction next Tuesday. Though I haven't shorted the August expiry series, it may be productive to close out my sept70s on Friday with the expectation of being able to resell them the following week on a rally.

Thanks for your thoughts.
duf
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