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Strategies & Market Trends : Covered Calls
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To: tchphysics who wrote (30)5/9/1998 2:38:00 PM
From: Herm  Read Replies (2) of 86
 
Hi Jeff,

I would settle for the gain on the current position as is. But, I would either consider buying several CLCX June CALLs yourself as a side show. That way you don't give up too much of the price action. You could use the extra equity and margin to buy more CLCX stock to do a July buy/write at a higher strike price. That is more of a risk than straight calls.

You'll get much better leverage from the June CALLs that you trade in for the profit or exercise them to continue your long position in CLCX when you get called out of the stock.

I hate covering CCs when the stock runs away. It always seems to pull back just when I'm getting into the position.

Nobody ever loses money by making a profit!!!! Like you said, mutual fund buyers would have to wait a full year to see those kinds of gains. You still could squeeze more profit out of CLCX!
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