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 (8421)	9/1/1998 5:41:00 PM
From: Herm	Read Replies (2) of 14162

Hi Everybody! Well, I unloaded my 5 TKLC Sept. 17 1/2s PUTs @ $1 which I paid 7/16s a little over 2 weeks ago. So, I doubled my money on that one. That makes 2 for 3 PUTs so far with SMOD remaining. I paid 1/4 for SMOD and I almost dumped it for 3/4s today. I would get 5/8s if I wanted to move on to bigger fish. I'm eyeing PRD as a possible PUT action stock. PRD was raked over the coals in Barron's this past weekend. Otherwise, I do have until OCT. for SMOD PUTs and the next two weeks may bring another market dump. The serious money is making a fortune off the whipsaw action of the markets. In summary, the BTGC CC premies dollars that I used to buy my bear trap sideshow PUTs (TLAB, TKLC, SMOD) has generated so far more than six (6) times in additional profits than the original $1,225 received for the CCs. I covered BTGC much too early after it bounced off the lower BB and went limp real fast and I ate about $375 to cover. Still, it was not new money out of my pocket. I used my CCer's money is the way I view it! Yes, BTGC has declined below $5.00 but the sideshow gains out weights the losses and I'm still above water and I slept pretty good last night after a -140 drop on the Nasdaq, WOW! This case study has really been in worse case situations. That is, falling BTGC stock price, crazy market swings and major corrections. Still it is a matter of pulling out the tool shed and using the right tools that follow the trend! Not to mention, several of you that have replicated our bear trap picks have also scored some kahunas. I'm not alone. Step up and share with us some of your hits and misses folks. That is the only way we are going to learn! I don't think it is possible to be 100% correct using W.I.N.S. but I sure can bat 75% to 80%. In baseball, I guess that would be enough to put you in the hall of fame!

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