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

To: rydad who wrote (2155)	8/20/2001 5:57:44 PM
From: golfinvestor	Respond to of 5205

Do you think a person can make a living off of a simple covered call or selling puts strategy? Yes with a sufficient portfolio you can can make a living, but not writing commission UNfriendly CC on 100 and 200 shares. Golf

To: rydad who wrote (2155)	8/20/2001 6:52:50 PM
From: alanrs	Read Replies (1) \| Respond to of 5205

Do you think a person can make a living off of a simple covered call or selling puts strategy? While I'm sure it is possible, my main concern is that NEEDING to make money on options would alter my judgement. It seems a lot easier to let the market come to you, which requires the time and financial cushion to wait when that seems appropriate. I always figure that how I react to various investments is at least as important as company or market factors. That's one of the main reasons I can't paper trade-it doesn't tell me or teach me anything about how I'll do when it's for real. Some people don't seem to have this problem. It's the old "know thyself" stuff. ARS

To: rydad who wrote (2155)	8/21/2001 11:20:55 AM
From: PoetTrader	Read Replies (1) \| Respond to of 5205

rydad... Well, actually I am living off my investments right now...but that's only because I'm in a feast or famine biz...I'm a novelist/screenwriter. So when I get a "real" payday it's a chunk of change that I put into the market...or pay off old bills. In June I was busy and only made 2400, but in July I booked 9600.00 and August so far 8600.00 -- so yes I could live off this. However, my underlying positions have gone through the toilet as has most everybody elses...I'm planning a strategy now to put myself in 50% cash to sell puts and 50% to cc on the stocks I truly believe in and don't want to get called a way...I'm always trying new mixes to see what works best for me. I'm sure the job market is brutal out there...it's a tough time in my biz too. It sounds like you're doing quite well on your cc's but I am too in-experienced to offer much advice as to doing this as a full time effort to support you and/or your family. UF, Dan and Faultline would probably be better in answering that one for you. In the meantime, best of luck...by the way, are you doing buy/writes as well? I think I mentioned to you two stocks that have some hefty premiums are qlgc and nvda. Might want to check them out. However, I'm really worried about what will happen if the Fed only cuts .25 -- I'm afraid we're going south through most of Sept and Oct...so trying to plan my put/cc strategy for the next few months. Let me know what you think... All Best, PoetTrader