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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: 4 - Bob who wrote (6234)12/27/1997 11:54:00 AM
From: Herm  Read Replies (1) of 14162
 
Hi 4-Bob,

The INTC chart indicates a support price level going back to June 1997. The stock is moving sideways and your April CC should continue to slowly erode some more. There should be some sharp up/downs next week when most serious traders return from the holidays. The question is should you continue to hold the current CC up to the Jan. earnings release? Hummm? The MACD and RSI are increasing slightly. I would seriously pick up some cheap PUTs before the INTC earnings release date! You are protected down to $67 with the CC premies. The PUTs should be around the $65 or $70 strike prices. That should fill your pockets up if INTC takes a further dive!

Research the computer companies recent earnings release numbers. If you notice that most computer companies are missing the mark then you have a pretty good idea that INTC may not be blazing earnings trails this time around.

On the other hand, if the computer companies are hitting their numbers then you may wish to cover your INTC CC position and perhaps average down some more shares. As long as the stock price is above your net cost basis you are going to make a profit even if you are called out down the road! Time is on your side for now!
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