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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: William who wrote (2555)	10/3/2001 3:38:43 PM
From: PoetTrader	Read Replies (3) of 5205

William and Thread... I don't really know what in the hell to do. I'm in the same situation with Msft and a couple of other positions that are running away from me...I was wondering if one of the thread gurus could come to our aid and assistance and walk us through repair strategies... For instance with msft. I got put Msft at 50 but made 55c so cost basis is 49.5 Sold Nov 50's for 5.60 yesterday...as you can see the market has ran away from me and I'm sure many others... I'm wondering if someone could walk me through a spread, wherein I take my msft nov50's and go to nov55's... here are the calls: Nov 01 45.00 12.30 +3.10 12.20 12.40 460 1,230 -MSQKJ Nov 01 50.00 8.30 +2.70 8.00 8.10 429 2,521 -MSQKK Nov 01 55.00 4.60 +1.75 4.50 4.70 6,410 5,875 -MSQKL Nov 01 60.00 2.25 +1.10 2.10 2.25 3,245 8,203 i'm not sure my thinking is correct. I have 5.60 already in teh nov50 calls so if I take 8.3-5.6 that's 2.7 I'm underwater... what is the best way to spread up?? Going to Jan's? I'm not sure? Help?? Thanks in advance... All Best, PoetTrader

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