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: hpeace who wrote (796)	3/13/1997 9:21:00 PM
From: Robert Graham	of 14162

Steve, I must of treaded on many peoples bubble. Please reread my original two posts carefully. I have not put down anyone's system. I have specifically stated that the risk issues have not been addressed properly to the benefit of the onlookers. I do not think many experienced option traders would disagree with this. My specialty has been investing in the stocks themselves. I have been averaging 35% return every year, so that is not too bad of a record. I have been involved in stock investments on and off for over 20 years. So I am no newcomer to stocks. Still, even though I have read about options, I have not actually invested with options before. When I find people reacting to something I said which in reality I did not say, this is good evidence that I pushed a few people's buttons. This adequately describes what is occuring right now by several people in this group. I have never before received such a criticism from what is basically common sense from a group vbefore on the Internet. And this is saying something since I have been on the Internet for over 10 years. The questions is now: why would what I have said be taken this way by a group of people? The "positive feelings" in this group about what is being done on this thread IMO has been in part justifiable, but at the same time overblown. When you get a group together that forms their own "in" club aroud a topic, they tend to create their own reality, a reality that they are quick to defend, and at the same time they also become disassociated with other important realities that they would perceived to go counter to what they as a group believe in. This is simple group psychology. This is what has happened here. Nowhere did I say that "the techniques that have been proposed here did not work". I think it is very reasonable and called for to have the risks involved with such an investment discussed in detail. This is what I ended up proposing. This is a no brainer here. I pointed out that such a conversation has not occured here yet. This statement is also self evident. This is what I like about the Internet. that anything I said can be reviewed entirely in its original form. It am asking you, Steve, and others to reread my previous posts. My comment about evaluating this situation like I would a stock was admittedly rather flip of me. I meant that once I find everyone beleiving in a stock as though the stock cannot do any wrong for the investor, and they consider it perposterous to suggest otherwise, than it is definitely time to sell the stock. This was my attempt to point out that the topics covered in this thread has developed into having the same status. This is where the problem lies. So "good luck" is all I have got to say. The authors who are covering "covered call writing" and "put option strategies" evidently have been given more responsability by this group than they apparently realize. Bob Graham

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