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: hal jordan who wrote (4027)	8/20/1997 3:34:00 PM
From: Herm	of 14162

Well Hal, What did I tell you about the Bollinger Bands set at 20-day exponendial moving average? Called it again fairly close to the bottom price before the reversal. FEELING GOOD TODAY! I jumped back in writing the VVUS OCT. 30s @ 1 1/2 for $1,500 bucks. Yeah, you can wait awhile and pick up some CCs at a higher premie. I wanted the money to combine with margin to buy more stock! I'm always interested in averaging down to get more premies. My net cost basis is $23.31. If I get called out @ $30 my profit would be approx. $6,600+ or 22.3% since June. That is, if I do nothing else! I'm sure I'll milk more than than out of VVUS before it's over. I'm sure there will be a few zig zags in price along the way.

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