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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 (9935)3/14/1999 11:05:00 AM
From: stoploss  Read Replies (1) of 14162
 
Herm,

CHRZ - am I applying WINS strategy correctly?

I have been a lurker on this thread for sometimes and have recently started to apply the WINS strategy. See if I am doing it right.

I purchased CHRZ @ $13 on 2/18, expecting a dead cat bounce, which happened soon and wrote CC Sep 17.5 @ $3 on 2/24. So my Nuts is $10. My premise was that the stock will not go below 10, and if it does to buy back the calls and write new calls at lower strike to reduce my Nuts.

At this point it has touched the lower BB with RSI below 30 indicating possible bounce back. But upper BB is still going down, lower BB is getting flat to slightly up, and band width is narrowing indicating stock will stay in narrow range. Is this time to cover the CC or just ride.

Also, can you give your interpretation of ANIK chart, where is it heading.

Thanks for all the great lessons you have been providing. Don

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