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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: Sam2482 who wrote (11359)	8/13/1999 9:53:00 AM
From: Herm	Respond to of 14162

I'm still holding ITDS and have three CCs in place for the FEB 10s. I have a small profit in the CCs. I see lower price for ITDS before it levels off. We are close. The charts show the upper and lower BBs are finally starting to come towards each other. In other words, the market is regrouping. Sideways is ITDS best prospect at this point. That's fine with me since those CCs dollars are in my account. Time is on my side! --------------------------------------------------------- FROM THE EMAIL CORNER! I pass on this email message from Bill. He writes: >Herm..............I am a newbie to covered call writing, >and I have followed the thread closely, I read the first >500 posts....tracking the case study .......I scanned many >many posts and printed alot of these post out to put in a >notebook. I applaude you for your leadership and ability >to keep to the subject, regardless of the chatter. You >have helped me alot in the many of the in's and out's and >do's and dont's of CC. I am an E-minis futures trader and >I use chart patterns and Elliott wave to identify my >setups, but I must tell you that CC"s have opened up a >whole new world. Thanks ! Just knowing that I can >eventually use CC's to put my money to work and suppliment >my Trading on a monthly basis is like a breath of fresh >air. I think I see a ray of light at the end of the >tunnel. I am committed ,willing ,and able to do the work >and do the time it takes.......I see it can be done and it >seems that there are those;such as yourself willing to >help......God Bless and thanks. >Can you tell me anything about the CC calculator?...is it >a stand alone item or must you have Excel? >THANKS > >Bill.................Villa Rica ,Georgia Hi Bill, Thanks for taking the time to write and share your discovery. Indeed, I have met many investors that made and lost money in the stock market and could not quite hold on to profits over the long run until they took the slow road of CCing. It is not really slow, it just seems that way compared to internet stocks that jack rabbit 200% in a month. Personally, I have given up on that type of speculation for more conservative sure thing results that I can sleep at night without worrying about my money. I will take a 25% to 60% annual ROI gain year after year anytime. The sense of accomplishment is worth the efforts. Now, as far as the cc calculator that the folks at coveredcalls.com, it works within Windows-95 as a standalone program. Our Excel templates have a spreadsheet to handle the record keeping for CCs and to determine exactly what your net cost basis is for the stock. The nut is used to gauge "what if's" CC plays. In other words, to help you determine the risk vs. rewards for your CC position. Long term capital gains should be in the back of your mind when CCing to avoid the possibility of being called out too soon! You do know about our PowerPoint presentation on WINs? webbindustries.com Thanks again! Herm