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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!

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To: Slava Chechik who wrote (7563)	6/7/1998 10:26:00 PM
From: Herm	Read Replies (1) of 14162

Hello Again Slava, Hummm, I did not consider the news release of a 2-1 split this week. Somehow I missed that! I wonder if it came out after my comments. The news item is enough to propel TJX higher before the split but soon after the first bout of profit taking will set in. To summarize, I previously said: "The chart indicates a peaking out of the RSI indicator while the price is still trying to move up. My guess? The stock needs great news to pump it up or profit taking will set in! I would be buying TJX PUTs to be on the safe side. CCers can write in the money CCs to protect their downside." So, I still think the CEOs will sell some shares before and after the 2-1 split as the price continues to go up. The 2-1 split does make it similar to the ROST kahuna we first had. The TJX price will bounce around, but, I would play TJX as a CC workhorse.

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