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

To: JohnM who wrote (713)5/21/2001 3:21:28 PM
From: Tom Chwojko-Frank  Read Replies (2) | Respond to of 5205
 
...instead of selling the calls covered at the top, why not sell naked calls with a buy stop to purchase the stock over the current price

Here's a scenario which fails:

Sell naked call with strike price 50, expires in June.
Buy stop at 55.

Stock goes to 55 in May.
Stock goes to 30 in June, calls are never exercised.

You have just been forced to buy at the top.

Tom CF


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