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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Gary E who wrote (2385)	9/10/2001 12:13:02 AM
From: Uncle Frank	Read Replies (1) of 5205

>> While, according to the trades shown above a $4 profit was made but a LOSS on the stock amounted to $19.... how is this a win? It's part of my long term buy & hold program, Hal. I bought qcom in April 1999 at $140 a share. It has split twice since then - a 2:1 and a 4:1 - so my adjusted cost basis is 17.50. But writing calls on those shares since January of this year has generated just about that amount, so I kind of own the stock at 0. There is no way to lose at this point. >> Or are you selling calls on stock you dont own? Anyone who has writen naked puts looks brilliant at the moment, but imo that is one of the most dangerous plays in the options arena. Besides, it's not my style; I'm just a conservative ltb&h investor. duf

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