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Strategies & Market Trends : Covered Calls
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To: William G. Murray who wrote (55)5/14/1998 6:24:00 PM
From: tchphysics  Read Replies (1) of 86
 
I don't know much about Parker, except that it is probably suffering from the same fate as all of the drillers.

If you can wait and see if it bounces to 11 or so, then take a look at the June or July 12 1/2's.

If you sell the 10's you likely will be called out, without allowing for any additional capital gain (I don't know what level you bought at). You could probably get 3/4 for the June 10's, which would give you a 7.5% premium.

I'd hold out for a little better opportunity on that one. But that is only one opinion. You need to decide if that is an acceptable return for you.
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