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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: FaultLine who started this subject8/29/2001 12:59:26 PM
From: Mike Buckley  Read Replies (3) of 5205
 
Seven days ago I wrote SEBL September $27.50s for $1.10. Today I uncovered for $.35.

Some people think of that as swing trading. I think of it as renegotiating the terms of the contract. In return for keeping more than two-thirds of the premium though the contract had been in force less than one-fourth the stipulated time, I let the other party to the contract out of the agreement.

I want to thank everyone in the thread for providing the information that is the basis of my thinking about covered call strategies. My wife thanks you too. The last time she entered covered call revenue in excess of our monthly expenses into our personal finance software, she said, "This is cool!"

--Mike Buckley

P. S. Keeping the wife happy is a LOT more important than having the revenue.
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