Herm,
Cheap, indeed, and getting cheaper. There has been some evidence that an institution has been selling, and it is apparently continuing. CHRZ met its numbers this morning, and had an upbeat conference call, but is now at 16. When my PAIR play unwinds at the end of the week, I'm buying more. The premiums are among the best I've found for a company of this solidity.
My philosophy on writing CCs is a little different. I like to use the stock as a vehicle for harvesting time premium, period. Thus I start by looking for high premiums, and do FA on the candidates. If I see limited downside, I go for it. Waiting for the stock to appreciate before writing, and sideshows, have only diminished my returns. I've been doing better with the pure strategic focus as espoused by McMillan. This is not to deride your approach. You are a better technician than I, thus better able to play the rises and falls.
BTW, it appears the sites that used to give out premium as per cent of stock price are now charging for the info. Any left that are free?
Thanks for a great thread, Tuck |
