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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: Uncle Frank who wrote (5085)2/28/2011 5:45:45 PM
From: alanrs   of 5205
 
I've been writing SNDK puts at around 40-45, and calls at 60, CREE puts also 40-45 and calls at 70.

Have not had anything put to me, but then I'm a chicken and write them pretty far out of the money. Most of the puts I've written have been on really stable dividend paying stocks with payout ratios under 50%. Right now I'm short 5 MRK April 31 puts and 2 CREE Mar 42.50 puts, having closed out the others.

Sold some QCOM about a year ago to buy a condo in Las Vegas for my daughter. It was cheaper buying a nice place outright than paying rent on a dump. Still have a lot (for me) of QCOM. In fact, until you posted, my plan was that my next post here would either be that I had passed the $100k mark trading QCOM (I'm close, one nickle at a time), or that I had finally managed to sell the first 200 shares of QCOM I ever bought at a profit (also close, if inflation is not considered). I bought those shares (now 400 with splits) when I first ran into the old Gorillas and Kings thread, and since they were in an IRA and I didn't have to do the first in/first out accounting, I've always kept them on my books as a goal in life. Just a little game I play with myself.

Other than that, all is well (except that the world is falling apart, but then don't all old guys think that).

Trust all is well with you.

Regards

Alan
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