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Strategies & Market Trends : The Covered Calls for Dummies Thread
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To: ValueGuy who wrote (5183)7/21/2011 11:51:26 AM
From: Bocor  Read Replies (1) of 5205
 
"I must admit that i tend not to use covered calls unless a stock I own has gained either 10% to 20% and I feel that there is very limited potential upside left, especially if its a bluechip stock"

Exactly my strategy. I used them very successfully on a few blue chips like ABT. BMO, etc. in the beginning of the year when things ran so far, and will do so again. I suppose I don't have faith that this market will take off, never to see these levels again. I think we seesaw for a long time, and so if a stock gets called away after a big run, odds are I can buy it back sooner or later at the same price at which it was called away.
Wish I had done that with PEP:(
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