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: H.W.Melle who wrote (7929)	7/22/1998 10:02:00 PM
From: Mike Fredericks	Read Replies (3) of 14162

Earlier today the W.I.N. guide was posted. So what do you do when stock hits bottom BB but RSI is still sloped downward? Wait for stock to start to slope upwards again before thinking about buying back? In my particular case, the Stock is PWAV. Wrote the Aug 17.5's when stock was at 16 1/2-ish, and got roughly $1.25 for each one. Now, stock dropped suddently (frivolous shareholder lawsuit) and is sitting at 14, after declining from 16 1/2 -> 15 1/2 over past few days. I could buy calls back now at 1/4. I could buy back and if stock goes up, re-write the calls. Or I could just let them expire. This is my first real trade with CC's, so any advice appreciated. -Mike

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