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 (7934)	7/23/1998 8:42:00 AM
From: Herm	Read Replies (1) of 14162

Howdy H.W.! TECNICAL CONDITIONS: Dropping RSI in price cycle, price approaching bottom of Bollinger Band. I looked at CPQ which is approaching the bottom of it's price cycle (lower BB) soon! It looks like the $30 range before bounce and reversal. Notice the right upward slant to the RSI indicating a trading range of $30 to $36 or more once the reversal is completed. Suggestions: If it was my money I would: 1. be preparing to cover my CCs. 2. considering when I covered my CCs to sell PUTs at the money ($30 to $32 1/2) two months out. 3. considering to buy cheap long Calls (sideshow or recovery spread). 4. preparing to cover any short positions. 5. considering averaging down by buying more shares.

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