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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (3120)	12/12/2001 10:16:40 PM
From: PoetTrader	Read Replies (1) of 5205

UF... I had dec 55's and at the last run up rolled out and up to Jan 60's. I had sold the original calls for 5.60 and one of you recommended that when the stock price hit the strike price plus premium to roll up and out. I think that helps me strategize and take all the emotional "what ifs" out. Now I have a lot of leverage because I had the original 5.60 as a buffer to sell out of my Jan 60's which I traded into for a debit of .60. So I'm going to wait a bit further for the market to take another dip and since my strike price is 3.00 I will have made 2.00 more than likely in any event and I've preserved 5.00 worth of position price. Hope this made sense. Let us know what you are doing with your position. Good luck, PoetTrader

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