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

To: FaultLine who wrote (1130)	6/20/2001 8:03:58 PM
From: PoetTrader	Read Replies (1) \| Respond to of 5205

Faultline...hey, I'm glad you decided to whirl towards the flame...I kinda think we're all in the same position, for better or worse, "we been bit"... So, in response to your suggestions...it's somewhat the same conclusion I have drawn. I'm going to ride it out for a week or so, and hope for the expected Fed rate cut to push Cien up and buy Aug45's more than likely -- it's exactly this kind of give and take that really helps me know I'm understanding more and more of this stuff. And, by the way, I loved your poem. It makes me think of a similar question I ponder all too often -- is it better to have taken the bite of the chocolate cake -- only to eternally crave those empty calories -- or never have known the succulent sweetness a'tall?!! PoetTrader

To: FaultLine who wrote (1130)	6/21/2001 10:53:36 AM
From: PoetTrader	Read Replies (1) \| Respond to of 5205

Faultline -- Okay, I tried to incorporate both my aggressive and safe strategies to my cien positions...this is my plan...please advize, comment, etc... on the 200 shares at 36.35 ..I want to sell jul35's at 6.40 reducing my basis to 30.00...if I get called out I make 1000.00 on 6000.00 which is 17% or so.. (if I'm figuring correctly) Here as the trader I don't care if I'm called out on my 200 at 56.15 and 100 at 61.58 -- I plan to sell Aug45's at 3.6 and will buy out and close before expiration...here as the ltb&h I want to preserve and reduce cost basis...I think I figured at 8% Okay...what do you all think...is this DUMB? or what??? thanks in advance...Best, PoetTrader