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

To: FaultLine who wrote (2893)	11/5/2001 5:01:35 PM
From: JohnM	Read Replies (1) \| Respond to of 5205

Thinking we'll fall back a bit, so today I sold NTAP Nov 15 contracts on half my position near closing time for 2.55. Well, I'll readily cede the macho call writing role to you. I don't have the courage for that one. I'm considering writing only December close OTMs and hoping for retreats between now and then. But if you look at the chart on NTAP tonight, it's possibly getting ready to move to its next line of resistance around 18 or so. So I'm considering watching the action tomorrow before writing. At the moment, my guess is that 50 basis points of Fed action is already in the market so it goes nowhere on that basis tomorrow. Depends on just how unusual the Cisco news is. And I'm not keeping up right now. Didn't you say something about selling your holdings sometime back? Am I thinking of someone else? John