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

To: Dr. Id who wrote (1413)	7/10/2001 11:52:43 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 5205

>> An example of a successful repair strategy... Today, I bought them back for 1.80 ($1832). Total Gain including Commissions...about $70. I can't believe you're bragging about making $70 <lol>. I guess your idea of success these days is simply not losing any money. Have you considered putting all of your money into fdic insured savings account? It's a much easier way to tread water than a 4 part options play. uf

To: Dr. Id who wrote (1413)	7/11/2001 1:42:03 AM
From: Thomas Tam	Read Replies (2) \| Respond to of 5205

I see you rolled up and further out. Anyone out there doing naked call writing? In this market (at least next 3-4 months) I can't see a lot of sustainable upside and as such looking at naked call writes. I like the strategy in McMillan if you have enough margin allowance, to roll up naked calls and sell more than what you buy back for. It works on the premise of what goes up must come down. Of course you can have a QCOM summer 1999-Jan 2000 run which could blow you out of the water, but like I said in this matter, very little sustainable upside. Any other thoughts out there on naked call writing? I think Frank hates this. Later