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: Herm who wrote (4317)	9/2/1997 11:25:00 AM
From: Douglas Webb	of 14162

Well, I'm listening to a conference call now, and it sounds good to me, but I really don't know much about what they're talking about (for the more technical/financial stuff.) So far, UGLY has come back up to 13 1/8, where it opened. I'm holding off on selling Oct 12.5 calls, since they wouldn't get my net below the market, and I'm still hopeful that UGLY will recover, and don't want to get stuck with a deep in the money call. Do you think this changes the near-term outlook for UGLY? Do you think it can still get back up over $17, or is it going to stay in the $12.5 - $15 zone? If it'll stay down here, then selling the 12.5 calls is more attractive. If I have to, I'd rather sell off some INVN at a profit to cover my margin. Or is that a bad approach? (INVN and UGLY are each around 50% of my portfolio.) Thanks. Doug.

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