How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Ofelia Cuesta who wrote (3072)	7/14/1997 1:54:00 PM
From: Herm	of 14162

I see! Hummm, as I'm writing VVUS is up +1 1/2 around 1:30 pm. This morning it was slow trading. Now, the MMs have kicked in the buy programs. Ok, now listen to this! Now that VVUS has started its' run you may want to locking in some contracts for Sept. and use that money to finance your speculation on the July or August options! We will most likely cover before Sept. on the VVUS dips that will hit us around the $32 to $35 from profit taking and shareholder dumping. Today or tomorrow should be smoking! Everything is kicking in today! ROST, TECD big time, and VVUS! These guys are at it again! I got my bite on my 10 contracts for the VVUS Sept. 35s moments ago! So, I got my price @ 2 with a low commission of 52.50 total. My net VVUS premies was $1,947.50! I love it! This is my options working money now! I have to put it to work sometime this week! Without a doubt I will get called out of TECD. So, I am toying with the idea of buying the July calls in order to catch some of that price wave and exercise on Friday. That way I can be back into TECD by next week after everything settles!

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