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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: PoetTrader who wrote (2550)	9/30/2001 9:37:58 PM
From: JohnM	Read Replies (1) of 5205

However, the Qcom 50's are a bit scary. I will probably write the Nov 50's for Qcom. I looked at both the Oct and Nov 50s and 55s. I considered, and am still considering, the Nov 55s but I'm concerned that the Nov expiration is after the quarterly reports. One of the many things I like about Frank's wisdom is to be very wary of selling options that expire beyond a quarterly report. So, if I wrote Novs, I would move it up to the 55s and even the 60s if the premiums were enough. Are you writing these tomorrow regardless of what the market does and if so why? When I know I'm going to write on a position, I wait until an up day...or are you afraid of too much premium erosion?... Hmmm, definitely not the first. I'll watch the market through the morning or at least until the first hour is over before I do something. As for premium erosion, I've given up predicting it. I just take what I find. The one thing that troubles me about tomorrow and Tuesday is that I think the Fed interest rate announcements will be on Tuesday. However, I'm guessing that if they fail to lower rates, the market goes down; if they lower, even as much as 50 points, the market yawns. John

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