Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

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

To: 100cfm who wrote (2293)	8/30/2001 3:04:04 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 5205

100, Curious to hear from you, UF and others if you come out better with the sell and buy and sell again or the hold till expiration. Time will tell. I haven't bought back my QCOM October $70s yet. And there's no guarantee that I will. --Mike Buckley

To: 100cfm who wrote (2293)	8/30/2001 3:04:21 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 5205

>> Today I feel very confident that all my calls will expire worthless but on the other hand I'm starting to feel my portfolio is going to expire worthless. You've identified the potential downside <gg>. The only thing that makes cc's worthwhile for me is the underlying assumption that I've invested in companies that will survive and prosper over the longer term. If I felt otherwise, I'd simply buy puts. Based on this week's trends, that might have been a good idea :-(. >> Curious to hear from you, UF and others if you come out better with the sell and buy and sell again or the hold till expiration. I'll give an accounting when my order to close qcom October70s fills. It looks good, though the underlying doesn't, of course. But that's just temporary (knock wood), right? duf

To: 100cfm who wrote (2293)	8/30/2001 9:38:47 PM
From: PoetTrader	Read Replies (1) \| Respond to of 5205

100 -- For what's it's worth, I have yet had two pay days beat the full amount if it had expired...on any given 4 week expiration period. I'm sure it could work if you play 6 weeks out and then double up closer to expiration. I just haven't been that good. However I get worried at times when I think I will be called out or put to -- so I go for a quick profit. (Except on my ltb&h) And then of course, there are other positions I would be only too happy to be called out of. I also was a seminar that specifically traded the calls for 1.00 -- put in the orders to close calls gtc for 1.00 profit right after selling the calls. It was a conservative way to make sure they made income. Maybe they did it 4 times an expiration...if so they'd have to be doing that with some pretty nice premiums...but I think that was their strategy to make sure they were generating some revenue but never called away. Also I think that's intended for a fairly flat or tight range bound market. This market direction...ugh, I want to sell all my underlying positions and just sell puts deeper itm!!... GOod luck, PoetTrader

To: 100cfm who wrote (2293)	8/31/2001 10:13:43 AM
From: Uncle Frank	Read Replies (3) \| Respond to of 5205

>> Curious to hear from you, UF and others if you come out better with the sell and buy and sell again or the hold till expiration. 8/2: sold qcom sept70 for 4.30 8/16: bought qcom sept70 for 2.15 8/24: sold qcom oct70 for 4.00 8/30-31: bought qcom oct70 for average of 1.98 Proceeds: 4.17/sh. (disregarding commissions). Note: qcom sept70 are trading at .40, so I am .23/sh. better off that if I had held them until today. That's a pretty small differential for lot of extra work. duf