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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 (9193)11/30/1998 6:15:00 PM
From: Paul Heye Jr.  Read Replies (2) of 14162
 
Herm,

Looks like I picked a false bottom on GLM. Could probably blame the mobil-exxon deal. I bought at 10.5. Today the price really dropped. As low as 9 1/8 close at 9.25. I am thinking of just selling out and moving to something else. Btgc looks like it might be hitting its bottom. Missed Novl (was split between the buy on glm and the buy/write on novl last week) as it comes down pretty big today. I looked at Doug's spread but most of them would be for long term. (apr or Jul ) and I do not know if e-trade will allow me to do spreads. With that big drop in price today all the call premies have really come down, so I do not think that would be an option. It looks like glm could go as low as 8.5 or so. Any ideas.

BTW are you still on the west coast? Hope you enjoyed the trip

Paul
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