Strictly: Drilling and oil-field services Message Board

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Gold/Mining/Energy : Strictly: Drilling and oil-field services

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To: Broken_Clock who wrote (9899)	1/27/1998 9:56:00 PM
From: Rob Hinton	Read Replies (2) of 95453

To: dlucas, glen; Subject: Covered call writing notes ..."This looks like a very tradeable range if you are long and write on the rises and buy back on the dips."... When you write at the peak take some of your premiums and get upstrike calls (protects you from a run-away) and cheap puts (since the sentiment is bullish) for the downhill ride. Then at the bottom buy your calls back to prevent an exercise, buy more stock/calls for the ride back up. Shampoo, rinse and repeat! You'll have your basis down to pennies before you know it!

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