How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Spots who wrote (5398)	10/11/1997 9:57:00 AM
From: Herm	of 14162

Yesterday, was a trader's bounce but there was not enough demand to keep the stock up. So, there is more chance of a downdraft next week. You should be able to cover. I'm betting VVUS will close at $40 late in the week. Vinik is no fool! He does not want to kill this golden goose yet! Since, VVUS made a new high this week it will make a good attempt before pulling back after the options expirations next Friday. So, I'm going to cover my NOV. 40s CCs since I have 3/4 points for 10 CCs ($750+)and will most likely get a full point for this past week. When the price rises I will pickup the 10 NOV. PUTs as a sideshow and hold on the CCs. You must keep a short rope with VVUS.

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