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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: tuck who wrote (11262)	7/20/1999 3:41:00 PM
From: David Wright	Read Replies (1) \| Respond to of 14162

Tuck, I did learn the hard way to only buy In-The-Money puts and calls, and then to make sure I have enough time left before expiration to ride a full cycle of the stock's trading pattern. I almost got caught on some sideshow calls on SCTC last month...through no amazing TA on my part, the stock blipped up 2 days before expiration, and I actually made money on the calls. About the only thing I take credit for was bailing out at just the right instant to make some money, and I think that was more relief, or fear driven, than anything else. Greed, for a change, certainly wasn't a factor. I guess bailing out on the EDFY sideshow is a good idea. I think the market will bounce up tomorrow anyway. How's that for a gutsy public pronouncement? Dave