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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (2228)	8/24/2001 4:08:08 PM
From: cfoe	Read Replies (1) of 5205

Well - I took today's bump in QCOM to sell the Sept $65s at $3.90. Before you all ask why, here is my thinking. Sold the CCs on my trading shares, which I bought in the high $50s a few weeks ago. We could get a correction Monday AM and I can buy them back a bit cheaper, pocket the profit and resell when the rise resumes. If no correction and stock keeps going up, I make a very nice profit (including the premium) on my trading shares. A profit I would be happy with, even though it might not be the "most" I could make. (Note - I need to say this to keep reminding myself that a profit in the hand beats promised profits in the "bush" <gg>). Off for the weekend. Enjoy all! Anyway, it was a great day with QCOM. Let's see it keep going for a while.

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