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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: Rick C. who wrote (12898)	6/5/2000 7:02:00 PM
From: Bridge Player	Respond to of 14162

Re: Real life short put option repair strategies. One of them is: roll out and down. i.e., close the original short put, sell another farther out in time and/or lower down in price. This strategy works. Sometimes. Unless you have misjudged the timing and entry point, or misjudged the fundamentals of the underlying. In which case you soon run out of farther out and/or lower strikes. And the stock keeps on tanking. And you lose your ass. Moral: Only engage in this particular repair strategy when you have NOT misjudged the fundamentals of the underlying and/or your timing stinks. BP

To: Rick C. who wrote (12898)	6/6/2000 10:00:00 AM
From: Herm	Read Replies (1) \| Respond to of 14162

I had to chuckle Rick, when you reminded me of that USRobotics viper! That was a roller coaster ride that was. That experience surely tested my stock repair skills. They did work to make a slight profit, but like you said, I had gray hair afterwards and more experience than I care to learn in such a short time span. I was out to prove the WINs approach worked and I must of liked the thrill back then. Not for the faint of heart. I'm mellowed out nowadays. If I had to do it over again??? Hummm, I guess I would cut the downward ride sooner and move into easier fish. I have grown fonder of leap bull spreads this past year or so.