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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 (7342)4/23/1998 5:26:00 PM
From: tranzz  Read Replies (1) of 14162
 
Herm, Help please, I need repair damage if not beyond repair.

Scenario:

1. Have 1000 shares VVUS @ 50% margin, nut is 10.71.
2. Wrote CC's 10 contracts May 10.
3. Still have 5 contracts June 15 calls.

How do I get out of this mess, I could have bought back the calls @ 3/8 last monday but did not. I would appreciate any advise you can give. Thank you.
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