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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: FaultLine who started this subject4/22/2002 2:24:48 PM
From: Mike Buckley  Read Replies (2) of 5205
 
I wrote calls covering my Siebel position. The strike price is $30.00 and the expiration is June. Not that I know anything about short-term stuff, but I would have been happier if the stock had continued drifting up higher before writing the calls. I bit the bullet because there wasn't much short-term good news in the conference call last week and the stock has a tendency not to run up after a conference call. In other words, my strategy isn't based on an expectation that the stock will fall as much as it's based on an expectation that it won't rise a lot, hoping to take advantage of a decaying premium.

Depending on the content of the QCOM conference call and earnings report this week, I'll consider covering that position also.

I'm trying to cover my Gemstar position.

As you can tell, I'm not particularly optimistic about the Naz in the short-term.

--Mike Buckley
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