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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: Uncle Frank who wrote (4499)	10/12/2006 7:35:57 PM
From: Dr. Id	Read Replies (1) of 5205

I'm just a MoMo at heart -lol. What does Aunt Nancy think about that? (not that there's anything wrong with it, but I wish you had told me before sharing a room in Las Vegas...) In regard to another kind of put play, I sold QCOM Jan 40's a few weeks back for $4.60. Today they are selling for $3.30. So, I can either take a $1300 profit, or wait for more time erosion and, if the stock continues to be stable or go up, make a larger profit. In this case, I'm selling more time premium... can still be a short term play or a longer term one. Haven't decided what to do yet. In some ways, it's a win-win, as I wouldn't mind owning more QCOM at $35.40 if it were put to me (if the stock doesn't hit or go above 40 by the 3rd Friday in January, or if I don't buy them back before then).

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