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Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?

To: Uncle Frank who wrote (43)	4/19/2001 12:49:29 PM
From: Andrew N. Cothran	Read Replies (1) \| Respond to of 5205

My, my how time does change. On Monday, April 16th, I had logged a total of 38 completed covered call trades during the months of March and April for a total gain of $31,724.95. All of my open positions were in QCOM (the April 50's, 55's, and 60's) which I hoped to ride through until expiration. But last Monday, I started thinking of possibilities and decided to start closing out some of my positions. Unfortunately, I didn't act fast enough and then along came Greenspam! The net result is that as of yesterday at 11:00 AM central time, I closed out ALL of the Aprils. My $31,724.95 shrank to $5404.74. My consolation is that none of my QCOMS will be called (thus saving me from the dreaded capital gains taxes) and what I gave up in call premiums I got back in stock value. Ah, life is good when it is not bad and is bad when it is not good.

To: Uncle Frank who wrote (43)	4/19/2001 1:22:18 PM
From: FaultLine	Read Replies (1) \| Respond to of 5205

OT: our collections I still have the stamp collection, and once in a blue moon I'll browse through the books stuffed with carefully chosen and beloved stamps, pausing to sigh when I come upon the Penny Black or Baby Zep. duf, I've experienced these same emotions while going back through my collections. Even the dusty smells revive a flood of long forgotten moments. Currently, I'm buried in old books I've accumulated for the past 30 years. Now that I'm retired, I'm going to start reviewing these old friends but I almost cannot imagine throwing very many of them away. I'd love for some younger person to give them a home but many are scientific and technical volumes with great meaning in the context of my own odyssey, but having precious little relevance in the real world out there. --dfl@soundssuspiciouslyalotlikeme.com

To: Uncle Frank who wrote (43)	4/21/2001 3:27:01 PM
From: tekboy	Read Replies (1) \| Respond to of 5205

I guess I should have the collection appraised and sell it for a nice profit yeah, well, you might be surprised. As a kid I spent a lot of time and (for a kid) money putting together a collection of "First Day Covers." Moved on to other things and forgot about it. A few years ago, while consolidating possessions from various abodes into a new place with a wife and less space, I came across the collection and decided to do precisely what you said. Turns out the whole thing was a friggin scam, and I ended up getting <$150 for the whole bunch, which was substantially less than I paid for them. Come to think of it, maybe stamp collecting has more in common with options trading than I thought... tekboy@onceadummy,alwaysadummy.com