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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Dan Duchardt who wrote (2968)11/11/2001 1:32:09 PM
From: PoetTrader  Read Replies (2) of 5205
 
Dan...

Thanks for your input. I decided that my whole concept of selling puts to try and deliver my call-away on Nvda was not very fruitful -- and couldn't figure out how I was going to get Fidelity to cooperate -- they contend once you've been identified as first in first out, it's difficult to make changes.

I tried to roll out to Jan 03 Nvda 50's per Uncle Frank's advice and still have not gotten the trade through...So if I'm not able to do that, I will just chock it up to one of those that got away. But if I can make the trade I will hold it until the market whooshes down (which it eventually will) and then buy that call back adn probably make some money - one direction or the other!

THanks again for your input. I'm realizing you have to jump on repair strategies more quickly, but I kept expecting the market to retest the lows. I thought I was so damn smart making nice premiums!!

So here's a question to you and the thread... at what juncture do you usually start making repairs? As soon as you've hit your strike price...roll out and up one or two months out?? Is there a rule of thumb??

Thanks again and in advance for anything you have on this topic...I think it's important for us to learn how to make options writing work for us under any scenario...

All best, PoetTrader
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