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: Scott who wrote (9609)	2/13/1999 12:50:00 AM
From: NateC	Read Replies (1) of 14162

Scott you wrote ... "If you look at the 5 year chart for S, you'll see support at 40, and a trading range of 40-60. If 40 doesn't hold, then it could slide down to the low 20s, which is where it was 5 years ago. But, it looks like it's worth a shot here, so I picked some up. I'm not going to CC it while it's at the bottom of its 3 year trading range. I'll wait until it rises a bit, or stop out if it falls." I'm not sure I understand your rationale......Do you mean that you don't want to CC it...because the premium is not good...until it starts up. Why not get in for, say March...right now...because you'll get more time premium...than if you wait another week or two?

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