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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 (2751)	10/16/2001 12:54:10 PM
From: Dr. Id	Read Replies (2) \| Respond to of 5205

>> Compared to how the option has been priced recently, I feel fortunate that I was able to buy back my contracts at $2.30, a loss of $1.65. It looks like you made a good decision, though we won't know for sure until Friday afternoon. SGQJW has traded between 3.50 and 4.00 today. Who says you aren't good at market timing <lol>? uf Our experience has shown that buying back calls at a loss in this market has not been a great decision. While we won't know in the short term whether or not it was a good decision until Friday, we won't know for certain unless the stock maintains it's current level. In the past, what seemed like a good decision in buying back calls hasn't panned out, as the stocks all dropped to levels lower than the strike in ensuing months. Dr.Id@learningthehardway.pov