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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 (4910)	9/20/1997 8:25:00 PM
From: Spots	of 14162

Herm, those weren't kind words, they were well-earned ones. There's nothing kind about paying the master his due. Well, to business. Not being allowed to trade options (by my own restriction of not paying Schwab's exhorbitant comissions), I bought 300 ROST in a low-commission online account at 29 1/8 and sold it at the upper Bollinger band (and RSI over 70) 32 9/16. Made a grand--feels good in my pocket--and don't regret the money left on the table. Thus falleth greed. However, I'm looking for a reentry point and considering several alternatives. My favorite at the moment is to sell Oct 35 puts, possibly also buying Oct 30 puts as a hedge. I'm not too worried about the long-term downside, but ROST preemies aren't all that high so the Oct 30's look like cheap insurance and possibly also upside gain on a fallback. Any comments would be greatly appreciated. In line with my opinion on the boys in Washington, I think a nice (i.e., appropriate) designation for a merged FedEx-UPS organization would be UP-FEDS. <ggggg> Regards, Spots PS. No chance I'll try to look up that "ymbol". I wonder what goes wrong with your posts. It's not solved.

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