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: NateC who wrote (10268)	4/8/1999 10:09:00 PM
From: David Wright	Read Replies (1) of 14162

Nate, I'm doing the same SAVLY shuffle you are. I got in at 12 1/2, sold the may15c for 1 5/8. Just bought it back for 1/4, then bought another 500 shares at 6, which gives me an average cost of 9 1/4. I'm now going to sell 10 Aug10 CC's for 1 9/16, which will bring me almost back to even. Biggest mistake I made was buying some May17.5 calls with the proceeds from my first CC sale. Herm was not happy with me for that one. I still think it's a good stock, and I REALLY think it is under priced now. Might take a few months to rescue this one, though.

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