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Strategies & Market Trends : Covered Calls
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To: tchphysics who wrote (59)5/15/1998 3:58:00 PM
From: tchphysics  Read Replies (4) of 86
 
Boy do I feel like a dumbhead. Bought FPAM yesterday at 11 3/8 to sell the Jun 12 1/2 call at 1 1/8. And as I predicted it would either soar or tank...I think we can safely say that it did the latter.

For the record, I bought back the calls at 5/16 and dumped the stock after it continued to fall through 7...got out at 6 5/8.

My lesson...do more research on a stock before jumping in.
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