How To Write Covered Calls - An Ongoing Real Case Study! Message Board

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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Techinvest who wrote (6523)	1/23/1998 2:19:00 AM
From: R. Gordon	Read Replies (1) of 14162

>>>My net on ASYT is 31$ and I sold the 22.5 feb when the stock was around 20 a few weeks ago, now record earnings come in and the price pops to 26+, if I let it get called I lose 8 1/2 per share.<<< Tech, I can't figure out your math in terms of why you are down $8.5, but if you must save your ass, here's an idea that's not real pretty. Buy back the feb22.5 for 4 5/8, and sell the June 30s for 3 5/8. That should stop the bleeding. I'm not sure about the math, but it should put you slightly ahead and save you from a very large loss. You may get a chance to buy back the calls and get on the horse again. Good luck, Richard

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