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

To: LindyBill who wrote (1961)	8/13/2001 2:04:33 PM
From: Andrew N. Cothran	Read Replies (1) \| Respond to of 5205

Lindy Bill: My tendency is usually to take profits when I am satisfied with the results. For instance, last Friday, I covered the Sept 65 which I had sold for 5.20 @ 3.90. I resold them this morning for 5.30. I covered the August 65 which I had previously sold for 3.20 @ 2.70 last week. I covered the Oct 65 which I had previously sold for 7.50 @ 6.00. I resold the August 65s today at 2.00. My reasons for doing this were previously stated. Why would I have covered the August 65's which I previously sold for 3.20 @ 2.70? Because I had a profit. Why did I resell the August 65s at 2.00. See my comments on my previous post. I doubt if my comments will help you make a decision re: your current profits. But maybe they will be of some help to you. When I sell a call on strikes and months that are not current ( that is, they do not expire during the current month) I am loathe to ride them through when I have a reasonable profit percentage wise. You know how the ups and downs affect the volatile issues from day to day. I usually take my profit and then look for an opportunity to sell again at a higher price than where I covered. Most of the time, this strategy works better than a ride em out philosophy.