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: Seyda who wrote (8051)	8/3/1998 6:40:00 PM
From: Herm	Read Replies (2) of 14162

I was not able to be near any computers today until I got home. Sure made my day to see SMOD starting to erode back down. Low volume spells "TIMBER" for SMOD. My 10 Oct. 12 1/2 @ 1/4 are now worth 3/8s. So, I paid $250 and they are worth $375 or $125 profit less commissions. Nice, 50% in two days so far! As SMOD drops further that 3/8s will appreciate to 3/4s and I may be able to walk away with a clean $500 profit. :-) Hey, my New Orleans trip is coming up in December. I need some party money to check out the dining and jazz clubs. You can bet the big money will exit out of this stock like ants reacting to bug spray! They may pickup cheap Oct. 12 1/2 PUTs as a kicker! Look at that chart! This stock is so over extended in price! bigcharts.com BTGC is sinking just like the charting indicates. Wow! Those warrants (BTGCL) are @ 1 3/4. Nice, and cheap. I will make a fortune this time around on these babies. Watch for the increase volume of 25% or more for the exact reversal points. My Jan. 7 1/2s CCs are now worth 3/4s. They paid me 1 3/4 and I will most likely cover at 1/2s to 5/8s and wait for my next round of CCs. It does not pay for me to wait until 1999 for $1,275 when I can make at least $1,600 by CCing all over again in the future. Looks like $6.00 to $6.25 may be the new bottom. bigcharts.com

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