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

To: Dominick who wrote (3221)1/10/2002 1:37:50 PM
From: Dr. Id  Read Replies (2) | Respond to of 5205
 
Gambling:

Bought HAL @ $11.14, sold Feb 10 calls @ $2.10.

This doesn't seem like a great risk/reward strategy to me. You get called out, you gain about 8.5%

If you don't, it means that you've lost at least 10.3% on your investment (offset by your covered call premium)

Why didn't you sell out of the money calls?

DrId@maybeImmissingsomethingasusual.pov



To: Dominick who wrote (3221)1/13/2002 5:33:33 PM
From: PoetTrader  Read Replies (2) | Respond to of 5205
 
Dominick...

Purchased Hal Jan 10 04 leaps, for 4.80 and sold feb 12.50's for .60. Uncle Frank and Dan helped me consolidate my strategy. I figure if I can keep selling calls I will have reduced cost basis altogether by the time the leaps come due. All Best, PoetTrader


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