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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 (2228)	8/24/2001 3:53:09 PM
From: Road Walker	Read Replies (1) \| Respond to of 5205

UF, re: I have not covered sebl yet. I had been waiting for a tech rally before pulling the trigger, but Tom Siebel pretty much took away the possibility of sebl participating. I have reset my expectations, and am waiting for a good opening to write Octobers. Taken in whole, I guess I wasn't as discouraged by Tom Siebels comments. But that's a discussion for another thread. If you do indeed think SEBL will trade down from here, I suppose now would be as good a time as any to write the calls. More time, more time premium. Unless you think we are going to have a short term rally, and you want to sell at a higher stock price / lower strike, sort of an artificial short of the stock. John

To: Uncle Frank who wrote (2228)	8/24/2001 4:08:08 PM
From: cfoe	Read Replies (1) \| Respond to of 5205

Well - I took today's bump in QCOM to sell the Sept $65s at $3.90. Before you all ask why, here is my thinking. Sold the CCs on my trading shares, which I bought in the high $50s a few weeks ago. We could get a correction Monday AM and I can buy them back a bit cheaper, pocket the profit and resell when the rise resumes. If no correction and stock keeps going up, I make a very nice profit (including the premium) on my trading shares. A profit I would be happy with, even though it might not be the "most" I could make. (Note - I need to say this to keep reminding myself that a profit in the hand beats promised profits in the "bush" <gg>). Off for the weekend. Enjoy all! Anyway, it was a great day with QCOM. Let's see it keep going for a while.

To: Uncle Frank who wrote (2228)	8/25/2001 2:35:16 PM
From: PoetTrader	Respond to of 5205

Dear John and Uncle Frank... After our nice rise yesterday I sold sept27 1/2 calls for .75 Not a great premium...While I'm pretty darn sure it won't hit that price by expiration, I was too chicken to go for the 25's. John, you're correct when you have to justify a position. It educates you. I don't know why but selling October on sebl scared me. Yes, nicer premium, but on this particular stock I feel better selling on a shorter term basis. But I sold october calls on Amat, aol, emc, and intc. Just felt I had a better way to play them with time. Some of it's science and some of its feel. Good luck to all, PoetTrader