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

To: Uncle Frank who wrote (1834)	8/8/2001 3:07:39 PM
From: Road Walker	Respond to of 5205

UF, I've covered short calls on SEBL and EMC today. Sorry, don't recall the prices, but profitable. Holding on some Intel short calls. One of the things that I also do, which really qualifies me for a dummy thread, is to buy stock that I presume will go up, with the intention of selling calls after a bounce. I have an order in for SEBL shares for that purpose right now ($30., don't think I will get filled). On the repair issue, I personally don't think there is a good solution for call sellers. You are betting against volatility, if you are wrong, you take your punishment, as with any trade. I happen to think that betting on the status quo you will win far more often than folks that bet on dramatic changes. But if you do it consistently, you will be wrong at times. That can mean you lose your shares if you are long term holder/call seller. Sometimes that can be a good thing, as I discovered over the last year <g>. John

To: Uncle Frank who wrote (1834)	8/8/2001 3:52:06 PM
From: FaultLine	Read Replies (1) \| Respond to of 5205

Covered a few on the bad news from CSCO today: QCOM is down 2.80 to 64.80 today QCOM SEP 70 SOL 08/02 4.50 BOT 08/08 2.90 Gain=1.60 SEBL is down 3.70 to 30.80 (down from 37.00 just three days ago!) SEBL AUG 32.50 SOL 07/23 2.90 BOT 08/08 1.10 Gain=1.80 SEBL ran up just after I sold these in July and I thought I was sunk but it worked out OK. I'm going to wait for another run-up and sell again, probably SEP's at a higher strike CSCO has been in a steady decline since last Thursday when it was at 20.00, now at 17.95 CSCO AUG 20 Sold at 0.60, now bidding at 0.15. I have an order in to buy to close at 0.10 but I do not think it will fill today which is fine because this one is in the bag. NTAP AUG 10 are looking better at 13.65 after the run-up to 16 last week. Will probably take a loss on this one in a few days. SOLD 07/26 1.20 ATM Current bid 3.70 ask 3.90 (wow, only about 5-10 cents time premium left on this) Be careful out there... -dfl