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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: David Wright who wrote (11263)	7/20/1999 11:32:00 PM
From: Woody Johnson	Respond to of 14162

David, I have been following this thread for about a week and I note a line from your recent post... "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" After trading options on a recreational basis for 10+ years, and seriously for the past year, I finally learned the hard way that violating this principle that you refer to is a sure recipe for failure. It's been said that 70% of the people that buy options lose money. I would go a step further and say that 90% of OTM long positions lose money. Good Luck WJ