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

To: BDR who wrote (1541)	7/19/2001 8:12:48 PM
From: Thomas Tam	Read Replies (2) \| Respond to of 5205

Well, I did write 40 calls and 30 of them were naked at the time, now since I bought back the Jul 35s I'm only naked 20 calls as I have the 1000 shares still to cover 10 calls. And if Aug rolls through and we are below $35, then I will only be naked 10 calls at a $50 strike. Plan is if I get called away, I will sell puts, say 10 Sept 35s or 40s to get in a position to get covered again. The biggest danger is if SEBL runs to 60+, which in this environment I find very difficult. I just think we are ranged bound for the foreesable future (3-6 months). Later