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

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To: Tony D. who wrote (4971)	9/23/1997 5:43:00 PM
From: Herm	of 14162

Nice VVUS violatility today! BIGGGGGGG swing in the AM around 10:15 to the negative -1 1/2. I was able to cover 5 of my Dec 32 1/2 CC contracts at almost bottom at 7. I then put in a limit buy for 10 VVUS Oct. 35s @ 4 and was filled. By the afternoon, VVUS had shaken off the profit takers and was moving up very strong. So, the OCT. 35 climbed up to 5 1/4. It's about time I got back some of the pie. 1 1/4 x 10 = $1,250 today. Tomorrow, I may be able to write 5 CCs for the Dec. 40s if I can get 6 1/2 for them. In the meantime, my 10 OCT 35s sideshow CALLS will raise some cash to cover my other 5 CC contracts. I'm looking for the same swing in prices. I notice that VVUS opens strong and then pulls back sharply around 10:00 and then bounces around until 12:30 and then it climbs straight up. What a thrill!

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