Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : VOLTAIRE'S PORCH-MODERATED -- Ignore unavailable to you. Want to Upgrade?

To: Venkie who wrote (1998)	9/18/2000 10:23:33 AM
From: SE	Respond to of 65232

Just initiated my first covered call of the new month. Bought back QCOM....400 shares for 69.75 and then wrote the OCT 75 calls for 3.50. If called, gain will be over 12% on the position. QCOM looks ready to move so I decided to give myself a bit of upside on the stock. On the other hand it has moved a fair bit in the last week already, so the 3.5 would reduce my basis to 66.25 if they expire worthless. That would in effect, close the gap left on the chart on FRI and seems like a reasonable entry point. -SE