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: Herm who wrote (6643)	2/3/1998 12:24:00 PM
From: Douglas Webb	Read Replies (2) of 14162

Creaf has bottomed? Herm, what are you looking at?!? On StockWizard, with BB set to 20/2, Creaf touched the upper band yesterday at $20. RSI (14 day) was at 66.5, which is about the same peak it reached in early January when it turned at $22. I wrote Mar 20 calls on my holdings last week (nut of $24.07) in the hopes of a dip back to $17.50 or so. Yesterday I bought some more shares at $20 and immediately wrote Apr 22.5 calls on them. That block will profit even if I don't get a chance to dippity-do, unlike the first block. By December I'm hoping to see $30+, but for now I'm trying to reduce my nut. We're in the weak half of the year, which should keep a lid on the price for a while. Doug.

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