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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (5028)11/6/2009 11:15:28 PM
From: Hepps   of 5205
 
UF,

I wrote the QCOM LEAP on 30 Sep08 when stock traded between 41.05 and 43.17. I seem to recall 42 or so at the time of the trade. VIX was through the roof those days.

I know I could have written something in the money, I'm just cautious by nature. I only write on a portion of my stock or cash at one time, and try to make sure that I'd be happy if called or put. The QCOM 47.50s are the same stock put to me at 45 a year ago, so I'll bank 2.50 plus the put and call.

Someday QCOM won't come back... I hope
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