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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: cajman who wrote (12343)	2/12/2000 11:38:00 AM
From: Herm	Read Replies (1) \| Respond to of 14162

Hello Dave, Welcome to our forum! You did not mention what your net cost basis (nut) was for TYC. So, I can only comment on a more generic nature. Much of your "what if" considerations will be influenced by your nut in order to weight the risk vs. rewards. With that said, you may like a Excel freebie template off my web site along with some other info, coveredcallswins.com Further, you may wish to join the free premier monthly newsletter on covered calls by the CC data Lone Rangers in free CC online premie % data at coveredcalls.com All you need now is two books. Larry McMillan's, Options as a Strategic Investment and Harrison Roth's, LEAPs - What They are and How to Use to Use Them for Profit and Protection. TYC I don't follow TYC and will have to get some clue to this stock from the charts. siliconinvestor.com The daily profile is now showing a narrowing of the upper and lower BBs with sideways narrow movement in the RSI and OBV. Surely, that is a pending gap waiting to happen. The previous consolidation (level flat areas) runs the price range of $40 to $42. I would peg that as the overhead resistance point that TYC must overcome right now! siliconinvestor.com Switch over to the weekly TYC profile and you see a rebound lower price support off the the $26 to $30 price range. TYC is making a first attempt at the 52-week high. Rarely, do you get that on the first attempt. I would venture to say at best a TYC sideways to downward bias within the $30 to $40 price levels for now! Be defensive in you posture with TYC! CCs would provide some downside insurance at this point! How about TYC 40s JULY @ 6.25 which would give you a solid +16% and 6.25 points worth of time before you need to act by either covering on the cheap and hold or covering at a paper lost and taking back the stock at par and rolling up later.