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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (4960)12/7/2007 1:31:59 AM
From: Hepps   of 5205
 
UF,

I've got strangles (puts against cash and covered calls) written on a few items. MSFT at 32.50 and 37.50, IWM (R2000) at 71 and 81, and QCOM at 40 and 45.

I still think that there's a big chance we'll see another leg down. Housing issues are just getting started, there's a lot of mortgages out there that still need to reset.

If I hang on to my stock this month, I'll write the same for MSFT and QCOM, and a higher call for IWM. Also looking at CREE, OVTI and CSCO for puts against cash. The high VIX is helpful.

good luck
Hepps
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