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Strategies & Market Trends : Covered Calls
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To: David Wright who wrote (82)4/18/1999 3:23:00 PM
From: Allen Furlan  Read Replies (1) of 86
 
David. I have used Brown and Company for about 10 years. They have had some problems with being too successful. On-line system is sometimes slow and one can have several minute wait to get to live broker if on-line is down. However they are real pros and I will give them benefit of the doubt to get their systems up to par. Commission on options is 15+1.75 per option with minimum of 25(limit orders). Stock market orders are 5 and limit 10. Rebate of 10% for over 300 per month commissions.
I visited site you mentioned. I have been trading options for about 15 years and am curious about philosophy of pre determining criteria for screening "good buys". Have you had good success? Years ago I developed my own formula using the integral of a triangular approximation of the normal curve and then used spread sheet downloads to approximate a standard deviation. I have now concluded in my old age that you must do the hard work to isolate stocks you would like to own then initiate option positions(covered calls or naked puts) when appropriate. However in the past week I initiated positions in MI and DCTM because the options for these stock showed high evaluations on the covered call internet site and fundamental analysis showed reasonable value for the underlying issues. On Friday I bought 1000 shares of SERO at 5 1/16, because the options on this stock were very highly valued on Thursday when the stock was at 10. I will write May 5 calls if the series opens on Monday or November 10s if not.
On the site you mentioned the example shows the if not assigned yield to be greater than the if assigned yield. How can that be? Also they referred to covered puts. Do they mean puts sold against short position and do they develop candidates for such positions?
Your insight would be appreciated.
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