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

To: JGoren who wrote (1658)	7/30/2001 6:58:39 PM
From: cfoe	Read Replies (4) \| Respond to of 5205

Question: Somewhat OT I bought some QCOM Aug $60 calls for $3.80 before earnings. As of today the price is $5.80. QCOM closed at $64.11 today, meaning that I have $4.11 of intrinsic value and $1.69 of time premium. My question: What is rate at which the time premium will deteriorate? Of course, part of my concern here is what direction will the stock price go. MaxPain is at $60 the last time I looked, yet QCOM looks like it has upside. Since this is somewhat off-topic, PMs will be much appreciated. TIA to all. P.S. Am leaving on 12-day vacation tomorrow and may not be back on SI until I return. So, I would appreciate any wisdom out there by tomorrow morning. PPS. FYI - I have not sold any AUG QCOM CCs yet. My leaning is to hold off for the stock to appreciate further this week.