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: Herman J. Matos who wrote (1055)	3/15/1997 10:10:00 AM
From: hpeace	of 14162

herman. I think your strategy is perfect.... buy that upstrike call I was a novice. I was executing a covred call strategy. I would tell experienced traders and they would say. You cannot win w/ cc'ing. This is one of the things they would list. They said you sell the call and the stk goes up real fast bec. you do this with volitile stks anyway. They would tell me that steve you lost all our upside on this stk. Then i would explain to these pros that "what are you talking about. I sold the downstrike call and I've planned all along on this. I bot the upstrike call(strike of 35) for 5/16. That up strike is now worth 1.25 can I'm sell the 32.5 for 3.5. There are times when I know the stk so well that when it does a ROST dip like last Tues/we. I buy the upstrikes then. It's like I was Columbus was telling them about America for the first time. There wsn't much they could say. Some said.. That's a pretty good idea. Others would say in very proper religiuos english..'WELL IT JUST WON'T WORK"<G>.. Herman.. I say Bravo.. I think what you did is the way cc'ing is done for this situtation and expectations.

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