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

To: Kayaker who wrote (3039)	11/16/2001 5:13:20 PM
From: Andrew N. Cothran	Read Replies (1) \| Respond to of 5205

Yes, Kayaker, I was focused. Those last twenty minutes were something to behold. It was a battle royal between the few longs who had a small profit on the QCOM 60's and those who wanted the contracts to expire worthless. As I said earlier, I did sell the Nov 60's in early morning for 60 cents, just 10 cents from the high of the day. I was convinced that QCOM would close below or right at 60. During the last twenty minutes of trading, I could have bought them back at 10 cents, then 20 cents, then 30 cents, but I decided to just sit. You know the rest of the story. QCOM closed at 60.08. That means that I will be called. So I will just have to look for an opportune time to buy them back. I bet you that I will get a chance soon at under $60.