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: Herm who wrote (7927)	7/26/1998 9:17:00 AM
From: Joseph Francis Torti	Read Replies (1) of 14162

So basicly people who bought these leaps are idiots who bought the stock at $54.00 and bought the leaps in hoping to limit their loses or (stupidity) in still holding the long? There are over 9,900 contracts outstandings for adpt jan 15 year 2001 so these have got to be all covered calls that are outstanding. Correct? I hold 300 shares long at 13 5/8. How would I limit my loses from here on? All the other options are not paying good premium right now and I can only write covered calls. If I could buy puts I think my best bet in insuring further loses would be to buy 5 adpt August 10 puts for almost $250.00 as insurance against further declined in my long holding. Does anybody Agree? Or do I do not know what I'm doing. (G)

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