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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: JohnM who wrote (2551)	10/1/2001 9:43:04 PM
From: PoetTrader	of 5205

John...I guess I should have made myself a little more clear and that's why I really like this thread...it helps us to clarify and think through our strategies. RE: Qcom50's... the reason I would write Nov 50's as opposed to Oct's was solely for the purpose of trading in and out on short term basis. I did so with Nvda and Msft to scalp a dollar a piece last week on 14 contracts and wanted to do the same a few times with Qcom before I settle on a Long Term (if you can call it that) covered call for the month. Meaning if I get in and out and maybe even once again...I usually then sell a call closest month in to just let it expire and take the extra cash -- and more often than not I am not called out because that last one is written more conservatively. For instance in Qcom's case I wouldn't write anything less in october than the 55's and would probably not even do that. Would take what I could out of 60's. Of course a couple of us were wondering a while back whether we were making any more trading in and out rather than just sitting on the original cc's we wrote. In this volatile market though, I'm afraid of NOT taking what comes my way. Good luck. PoetTrader

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