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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Dan Duchardt who wrote (2849)	11/6/2001 11:33:31 AM
From: PoetTrader	Read Replies (1) of 5205

Dear Thread AND Guru Dan I was wondering if you and any one else could give me some advice on the following repair strategy. I got whipped on my calls I sold for November on Nvda -- sold Nov 30's at 3.30 (my cost basis is around 30.00 so I wouldn't lose money --but would obviously like to capitalize on their phenomenal move) as well as Qlgc at 22.50. I could slowly try to roll prices up over incremental strikes but that could take forever...or I could simply buy the underlying stock and have those positions taken out at the latter cost basis correct? Or I also thought about selling a put for say Nvda 45.00 next week making a couple of bucks, having the stock put to me and have that position taken away still maintaining my low cost basis positions -- or does it not work that way because technically you are taken out before you are put on assignment? Am I thinking this through correctly?? Or??? I kept thinking we were going to retest lows and I would have made some nice option income...Nope...no sign of that! Thanks for all input. PoetTrader

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