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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: holland who wrote (3285)1/18/2002 1:08:58 PM
From: rydad  Read Replies (1) of 5205
 
Could you expand upon your suggestion to "not let the sold call be exercised, you should buy it back"

I don't understand the purpose of buying it back in this case. As the stock keeps rising, when do I stop buying back? Is this because as the stock goes up, my leap goes up also? So when my leap is sold, the gain is enough to offset the stock gains?

Please explain.

Thanks
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