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

To: Getch who wrote (180)	4/23/2001 1:01:00 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 5205

>> I keep telling myself that covering a portion of Q will be a good move (certainly would have over the past few months) It would have been a brilliant move if one had begun writing front month covered calls this time last year! Unfortunately I delayed until January, but have still been well rewarded. Since I have large gains in my qcom positions, I've limited myself to writing cc's in my ira where there are no tax implications. I outlined the details of a recently purchased position, representing 40% of my ira qcom holdings, in the following post: Message 15697932 I wrote April 60s on the remaining 60% of my ira qcom's. These were shares that I purchased in April '99 at 17 I/2, and I'm very fond of them <gg>. I plan to buy them back on any dip below 60, and will leg into the remaining shares over the next few weeks. The "fondness" issue is one that I'm working hard to overcome, as it interferes with rational decision making. But the premise that qcom would not "run away" from me seems to be proving out this morning. If I am successful at buying back my old shares at < 60, I will be able to retain the revenue I derived from them and the shares as well. That's the best possible scenario for a cc writer. uf