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 (7402)	5/5/1998 10:54:00 AM
From: mc	Read Replies (2) of 14162

Herm, you're right about SESI. I bought in at 8.5 and let it run up to the upper BB and wrote the May CC. It has pulled back from it's recent high and I don't expect it to really make a test of the 12 1/2 level which is the strike on the options I wrote. Rather than put some money back on the table and buy them back (the calls), I believe I'll just let it run because I don't think the upside is more than the 12.5 strike. Even if it does run and I get called out I'll be happy with it - one thing I've learned is to never be unhappy with a profit (especially if the profit is 50%+ in a couple of months like this one is). It's when you chase that last penny that you get hurt most of the time. Hope the Tampa trip is a good one for you. Most Embassy Suites have a free unlimited drink happy hour on weekdays @ 5pm for about an hour and a half or so - good hotel choice on your part. You can save that money that you'd have spent on the Coronas for the market. Take care. Good luck, Gary

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