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Technology Stocks : Compaq
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To: Mike Gordon who wrote (23900)4/4/1998 7:04:00 PM
From: FR1  Read Replies (1) of 97611
 
"However, like you, I got stuck with 2K shares of CPQ by selling puts. However, this was turned around by selling CCs. You need to understand the math and strategies if you are to be successful."

Hi there! I am just curious and trying to understand this so I can learn something.

Let's say CPQ was at 30 and you sold 2K shares of covered puts at 28. The stock goes down and you have to pay. Are you saying you sold 2K of Covered Calls at something like 32 to cover your loss at the same time you sold puts? Or did you sell CCs as you hit the strike price of 28? I don't understand how you calculated things and turned this loss around selling CCs. I appreciate your advice.
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