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

To: JohnM who wrote (2453)	9/21/2001 4:41:49 PM
From: Mike Buckley	Read Replies (1) \| Respond to of 5205

John, If you're willing to write calls at these levels for October, seems to me your conclusion about the market is these levels will hold for Siebel, roughly. They don't have to hold at what I consider to be "these levels." The call I wrote is 33% OTM. If the stock rises 30% (which I hope happens), my goal will still be achieved. That should there be a pop up that would lead to loss of shares, you would be able to repurchase them at these levels in the next several months. No, that's not my thinking. The shares are in a taxable account. I'll watch the situation closely to prevent them from being called, even if doing so results in a loss on the option contracts. --Mike Buckley