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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 (2511)	9/25/2001 2:39:57 PM
From: LindyBill	Read Replies (2) \| Respond to of 5205

The only problem with your profits on the CC's, Frank, is that your underlying stock loss was probably 3 times what you made on the CC's. I made big bucks a few months ago on my first sale of CC's, but lost my ass on the stocks at the same time. My only positive was that I would not have sold them during this period, so the money made was a plus. That is probably how you are looking at it. However, I would have been way ahead if I had got out instead. CC's are great in a flat market, as you have pointed out here. But they are a small consolation when we are taking the beating we have this year.

To: Uncle Frank who wrote (2511)	9/25/2001 2:42:56 PM
From: Andrew N. Cothran	Read Replies (1) \| Respond to of 5205

Uncle Frank: Re: QCOM covered options. On July 13, I sold Jan080's of 2003 for $16.50. Closed them today at $5.80. Today, after the above covering move, I Sold to open Jan060 of 2003 at $10.50. Will hold pending any strong upmove in QCOM. I hold covered shorts in QCOM Jan 060 of 2002 @9.70 and April 060/2002 @9.00. Of course, I could be called. But I have about $13-15 dollars of protection and therefore wouldn't mind seeing a QCOM rally from here. Congrats to you and Cheers!