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: John M. Hammer who wrote (254)	2/23/1997 10:50:00 AM
From: Baja Don	of 14162

Hi Steve, Herman, John and All, I know some of these posts don't apply to ROST but the situations could in the future. John, a friend of mine has a problem only in the reverse. He bought 1000 shares of Amgen when it was $1.25. It has split 4 times and he now has 8000 shares. He wrote the Feb 60's for .25. Its the first time he's wrote a call and his broker knows zip about calls. He was out of town but I left a message for him to buy back the Feb. and write the Mar. 60's. I thought he had been called away but he had picked up my message and did what I said. Amgen went up 5 points last week and could go higher. My question. What other defensive moves can he take. It would be a disaster tax wise if he got called out. This could apply to long time Ross investors also. Thanks in advance. I started reading this thread a few days ago, went back to day one and read and printed all day. This is helping a lot. Thanks again. Don

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