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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 (9397)1/10/1999 4:49:00 AM
From: Robert H.  Read Replies (1) of 14162
 
Herm,

I find it interesting that you mentioned FLC 2 days ago. I just caught your post; and was wondering when someone would think that FLC would make a good CC candidate.

I've been buying FLC and selling May 12 1/2 calls between 2.5 and 3.5 on it since 12/28/98. The open interest on Friday was 126. Of that 81 are the calls I've sold.

I see the downside as 7.00, and upside unlimited if I'm not called. So far this has been very profitable; as I,ve been using cc profits to leverage into 10,000 plus shares.

I expect that the 3rd qtr. will be all up for the oilpatch. What's your take on the oil shortage biz.??

Thanks, ...//Robert
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