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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 (2034)	8/15/2001 4:43:25 PM
From: Andrew N. Cothran	Read Replies (2) \| Respond to of 5205

Why don't you quit sharing investment information with Aunt Nancy?

To: Uncle Frank who wrote (2034)	8/15/2001 4:44:29 PM
From: golfinvestor	Respond to of 5205

<With 2 minutes to the market close, it looked like my limit order wouldn't be high enough to allow me to close my qcom cc position> UF, I too had a similar experience, yet with a different strike price. In a taxable account I: wrote qcom sept 80 on 8/2 for 1.20 closed on 8/15 for .40 (at the closing bell) net .80 in less than 2 weeks. This Dummy wants to thank all of you for sharing your insights and knowledge on this thread. Golf

To: Uncle Frank who wrote (2034)	8/15/2001 5:46:33 PM
From: rydad	Read Replies (2) \| Respond to of 5205

Please explain to me why you choose to close your position ( I assume that means to buy back your call) . why not let it keep going? Is it better to write/buy back then write again? Is the idea to buy back (close) when you see a dip in stock price then sell again?

To: Uncle Frank who wrote (2034)	8/15/2001 7:19:11 PM
From: Road Walker	Read Replies (1) \| Respond to of 5205

UF, re: With 2 minutes to the market close, it looked like my limit order wouldn't be high enough to allow me to close my qcom cc position, but someone accepted my offer of 2.15 right at (or maybe just after?) the bell! First, it wasn't "someone", it was the MM, who may or may not have sold it to another investor. Probably balancing his own "open interest". Second, that will happen a lot, especially during expiration week. Prices that won't be accepted all day will suddenly be OK at or after 4 pm est. Options sometimes trade 15 minutes after the bell. And the perception of overnight risk increases as the market closes, so a trade to balance another position can become very appealing to a market maker. John