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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: alanrs who wrote (4575)	11/19/2006 5:02:18 PM
From: Bridge Player	Read Replies (2) of 5205

A question on your run or runs of 100 or more consecutive profitable transactions on selling options. Or maybe several questions. Are these more frequently naked options, or against holdings in your account? Roughly what percentage of those sold are closed out prior to expiration? Do you prefer to let them run to a worthless expiration if possible, or are you more apt to close with a reasonable profit once it appears? And do you usually write the nearest month, or look out farther for higher premium? For November expiration, I had written 8 calls on stock I owned, 1 short call on a stock I did not own, [and which I had to close early at a loss], and 18 short naked puts on stocks I did not own. Of the 8 call positions, 2 expired worthless and the other 6 were exercised, calling away stocks I had intended to have called; they were bought for buy/write purposes. 16 of the short puts expired worthless; I did not have to prematurely close any of them. [Although ISRG gave me a little heartburn near expiration, though it finally closed above the 95 strike.] And finally, 2 of the short puts were assigned and I bought the stocks.

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