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: Herm who wrote (10478)	4/22/1999 12:33:00 AM
From: fubsy cooter	Read Replies (1) of 14162

re novl: thanks herm and others. i ended up selling the may 22.50 cc's @ 1 1/4. got in the black and watched novl take off. not too unhappy though as its better than losing my shirt. cama out with a small profit. how often do shares get called out at this distance in the money? novl = 23 1/16 vs 22.50 strike. hoping i'm called out. figure i can then sell more cc's in the money for big cash, a huge downward hedge and maybe be called out again to do it a few days later. has anyone ever used that approach with any success. i know it eliminates upside potential, but with the market as volitile as it's been, i'm satisfied with quick consistent 10 - 15 % gains. actually, i'm satisfied with that anytime! best of luck to all!! fubsy

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