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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: harmonyss who wrote (4587)	11/20/2006 11:00:33 AM
From: harmonyss	Read Replies (2) of 5205

Must clear up a few things after reading my own post. It sounds like I'm new to options and trying to ask for advice and that's not the case at all. I'm quite happy with my trading style, just curious as to what others do, having no contact with other option traders. Friends eyes glaze over and give that vacant stare if I bring up option trading. I have both a Briefing.com and Investools.com acct that I use for trading info. Investools is very useful with searches, finding the highest paying options with same month expiry dates and Briefing helps with latest news/up-downgrades. If someone has a question on an option chain maybe I could help there. My style is short term... I don't fall in love with a stock. Have no long term core holdings and love it when it gets assigned. This is what I do. Watching the indexes for a rest or correction I buy the stocks with a history of highest paying options in the nearest month, wait for a peak watching MACD/STOCHASTICS then sell covered calls. Of course it's not exactly as simple as that but it's close ... accumulation/distribution has to be in accumulation mode, chart going up not down etc. I'm not against a simultaneous buy and ITM option sell on stock at a spiked high if the contract price is just too ridiculous to turn down. My search is Options selling at 10% of stock price or better. This finds you some very strong stocks that don't get beat up too much in a correction. Last months good Stocks were AMAG NFLD SEPR actually bot ENCY calls, rare for me. Today my screen brings up NFLD TELK ONXX out of 103 stocks it found. With a daily search, something always comes up to interest me. Right now looks like everyone is expecting a correction so things are quiet but there will be great stuff this month. Happy Trading, Harmo

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