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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: PoetTrader who wrote (2556)	10/3/2001 4:08:07 PM
From: Uncle Frank	Read Replies (2) of 5205

>> 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... I don't understand your problem. If msft gets called at 50, you've realized a profit of (50+5.60)/(50-.55)=12.4% Why not let it get called, and then, if you want to maintain a position, wait for a reasonable re-entry point? It only would have been a problem if msft had dropped to 40, or if being called triggered a big tax bill. uf

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