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

To: LindyBill who wrote (1746)8/2/2001 12:01:25 PM
From: Uncle Frank  Read Replies (2) | Respond to of 5205
 
Nothing like going for broke, Bill. You are the quintessential binary investor <gg>.

Did you write September expiry on all of them, and do you have a plan to close any of these positions on dips?

duf



To: LindyBill who wrote (1746)8/2/2001 12:12:35 PM
From: alanrs  Respond to of 5205
 
Probably a good day to do it, at least I hope so. I'm about all written out myself, although can't say the proceeds will pay my expenses for a year.

Just sold the SEBL Sept. 40 for $2.80 (2.66 net).

Do have two GTC orders in to buy LSI and TQNT calls to complete the ratio call spread. Was able to re-establish the CREE spread. I'm very curious about how these work out. On paper they sure do look like a very small risk for a high reward.

ARS



To: LindyBill who wrote (1746)8/2/2001 12:26:48 PM
From: Uncle Frank  Respond to of 5205
 
>> I sold just otm calls on all all 8 of my positions this morning... Got enough premium to pay my expenses for next year.

Bill, part of my strategy in writing the longer cc is so that I can close the position on a dip. As such, I don't consider the premiums I collect as mine until I buy the calls back. Only the net of the two transactions ends up in my pocket. Sometimes that has been a negative return. I'd suggest you don't count your chickens quite yet.

duf


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