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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 (8925)	11/4/1998 7:50:00 PM
From: Bill/WA	Read Replies (1) of 14162

Herm.......HELP!!!! Did something stupid & now I need to work my way out. I've been holding Innovex (INVX) 300 shrs. for years - cost basis approx. $22. When it was down in the $9's I sold 3CCNov strike @ 7.5 for 2 7/8. Now, of course, its going through the roof! The Nov 7.5's are at 6 or 7. To recoup, I was considering closing out the Nov 7.5 position and selling 3-May15 CC (IVQEC)@ 4 1/2 and take the loss of the difference. INVX is a well run company with a pretty good cash position, my opinion (right or wrong) is that it 'could' return to the 20's however I am one of those that believes after Xmas, the market is going to go into the tank a bit. In any event, I would appreciate your opinion on my plan for INVX. Thanks in advance, Bill/WA ps- flying into West Palm on the 10th, is it still hot there??

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