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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: CrackheadBob who wrote (4994)6/1/2009 9:05:09 PM
From: wilywilly  Read Replies (1) of 5205
 
You're doing OK, moving up in strike price every month and making money, or at least breaking even. I wrote CCs on QCOM starting after the DotCom meltdown in 2001 and when the market ramped in 2003 I went so deep under water I didn't emerge until this year. I finally did, and kept all my shares, which I bought in the 1990s so I have a VERY LOW cost basis. I was rolling out a year at a time, and thought I would never see daylight. One good thing about QCOM is that its volatility makes for nice fat premiums, which makes it easier to roll out for a break even/profit. And now that I'm OTM, I'm making a nice income with CCs every month on this holding.
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