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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 (2720)	10/15/2001 2:43:40 PM
From: Andrew N. Cothran	Respond to of 5205

Sure was, Uncle Frank. But my bet (guess) was the the market makers and hedgers would have their pound of flesh between now and Friday--despite the good news. Guess I was wrong. But I don't mind the appreciation. I can either buy back before Friday or let the stock go at 50. Might let it go and try to buy it back. Or might just bite the bullet and buy the calls back instead. Don't know yet what I will do. Will just watch the stock price closely for the next few days--that's a given. (the double Scotch seems to help.)

To: Uncle Frank who wrote (2720)	10/15/2001 2:55:17 PM
From: Andrew N. Cothran	Read Replies (3) \| Respond to of 5205

Uncle Frank: It will be interesting to see how QCOM'S stock price moves between now and Friday. I am such a cynic in that I still tend to believe that the 'powers that be' will exert every effort to keep QCOM close to and a fraction below 50 because of the open interest in that October strike price. All the good news about the company can be held in abeyance for that long so that the poor longs can be milked of the remaining value in the strike. If QCOM closes on Friday at or slightly below 50, my cynicism will be vindicated. It if closes above, then I will admit my mistake both in strategy, timing and wisdom.