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Strategies & Market Trends : The Covered Calls for Dummies Thread

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To: fmikehugo who wrote (4703)	1/16/2007 4:51:57 PM
From: Uncle Frank	of 5205

>> I haven't played in this sandbox for a long time, and almost couldn't remember how... It's just like riding a bike. > Saw INTC just below 22.5 3 days before expiry and did a quick buy/write, with 1,000 shares at 22.25 and 10 Jan 22.5s at .47 Seems like a good play to me, provided you're optimistic about Intel's short term prospects, and are willing to hold it for a while if reaction to the earnings report isn't positive. > First reaction to earnings seems mixed. The report isn't easy to interpret. Do we focus on margins being down, or on beating estimates? I think their forward guidance will set the direction for the stock. But no matter which way it turns short term, I think you've made a good play. Welcome back to the sandbox. duf

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