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 (874)	3/14/1997 8:32:00 AM
From: Herman J. Matos	of 14162

Yeah, like the black jack dealer, I know one of your cards. I placed a limit order to buy 4 April 25 Puts @ 1/2 which it should easily hit as the stock price goes up today and Monday. That is some pretty cheap insurance considering how much time I have for the PUTS to appreciate on the pull back. No doubt, it should happen before April's expiration. Also, I'm rolling the dice by placing a limit order for 4 at the money March 27 1/2 calls @ 15/16. If I'm fortunate to get it at that limit price I will be looking for a good fast return (by Tuesday or Wednesday) on the calls for say 5/8 to 3/4 points. The volatility upward swing should provide at least that spread.

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