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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Jon Khymn who wrote (4202)	4/15/2004 6:24:18 PM
From: Dominick	Read Replies (1) of 5205

I couldn't have put it any better than Dan. One strategy I use is to buy a highly liquid stock at a support area. Then wait for the stock to prove itself by rising 1 point. If it appears the rise would continue, I may wait. Then write an ITM current month call near its resistance area. If instead it rises a little then resumes the drop, I'm out at my stop. Then I collar it with an OTM put. Yes at times I average down if I'm too early. But I do that to obtain the virtue of humility. dom

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