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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 (2423)	9/19/2001 12:20:42 AM
From: BDR	Read Replies (1) \| Respond to of 5205

I dropped my GTC offering price to close my QCOM Oct short calls. I am offering .50 for my 60s and .30 for my 65s. Eyeing the Oct 50s but will probably just buy back the calls and lay low for a while.

To: Uncle Frank who wrote (2423)	9/19/2001 2:30:26 AM
From: Mathemagician	Respond to of 5205

I am essentially all cash right now, having closed out my QQQ short on Monday. The only exception is a little bit of RMBS. Otherwise, I'm in wait and see mode... M

To: Uncle Frank who wrote (2423)	9/19/2001 10:03:27 AM
From: LemurHouse	Respond to of 5205

I have no option positions for the first time in a long time. I like the high volatility, but am not willing to write CC's against my long positions with stock prices this low, and with this much uncertainty in the market. Briefly considered writing cash-covered puts, but quickly decided that I don't want to be out on that limb either, just now. So, I am on the sidelines with respect to options. FWIW AD

To: Uncle Frank who wrote (2423)	9/19/2001 10:18:08 AM
From: holland	Read Replies (1) \| Respond to of 5205

Keep in mind that the covered call strategy is for flat or slightly rising markets. I do not feel that it is an appropriate strategy for the current market. Cash is king.

To: Uncle Frank who wrote (2423)	9/19/2001 10:38:05 AM
From: William	Respond to of 5205

I closed my short positions on QCOM and NTAP October calls, and have not opened anything new. I am expecting (spelled h o p i n g) for an upward spike and not willing to be short calls if/when it occurs. William

To: Uncle Frank who wrote (2423)	9/19/2001 12:15:32 PM
From: JohnM	Read Replies (1) \| Respond to of 5205

Frank, I'm on the sidelines, nothing open. And going to stay that way for the immediate future. I don't see anything close to predictable trading ranges at the moment. I'll wait until that's a bit clearer. John

To: Uncle Frank who wrote (2423)	9/19/2001 11:43:55 PM
From: Dan Duchardt	Read Replies (1) \| Respond to of 5205

uf, The only call I have written at the moment is 2003JAN7.5 on RMBS. I closed SKX and MU too soon for this market, or perhaps I should say I should have rolled down. RMBS is the one I should have closed, so I guess I'm 0 for 3. I added a bit of SKX stock today and will write OCT or NOV calls. If we get any follow through tomorrow or Friday on the bounce today I'll take what I can get on the OCT. Otherwise I'll wait on this one. I'm dabbling with QCOM and currently have a sort of synthetic long with short OCT50 puts and long OCT60 calls; net delta is 113%. While this is not a classic CC scenario, it is much like holding the stock long waiting for the good up move to sell the calls. What I do with the puts will depend on how the market goes forward. If QCOM goes well above 50, I'll cover the short puts and wait for another pull back. If it hovers near 50, I'll probably just stay with it. If it makes a run below 42.5, I just might stop out. Best of luck to all you Q'ers out there. Dan