SI
SI
discoversearch

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor.  We ask that you disable ad blocking while on Silicon Investor in the best interests of our community.  If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.
Strategies & Market Trends : The Covered Calls for Dummies Thread -- Ignore unavailable to you. Want to Upgrade?


To: PoetTrader who wrote (3248)1/13/2002 5:49:09 PM
From: PoetTrader  Read Replies (1) | Respond to of 5205
 
Dominick...

Just wanted you to know I wrote that last post before I had read all the interplay between you and Uncle Frank. I always read UF's posts because I think he's one of the sharpest guys around these parts, but I also find everyone's input valuable insofar as how they attempt repair strategies. While it appears your repair strategy was based on a smaller time frame than most I appreciate hearing both how the day trader escapes his demons as well as the lb&h's do. It's all grist for the mill. So do please keep posting.

Good luck, PoetTrader

PS. From what I've been able to tell Hal definetly has some difficult times ahead with all asbestos problems but their insurance theoretically covers claims as well as recent judgements that would work in their favor make this an appealing longterm turnaround story. The point for me is buying this low, holding and making some premium in the meantime and hoping it returns to its former glory after problems are out of the way.



To: PoetTrader who wrote (3248)1/13/2002 7:11:12 PM
From: Dominick  Read Replies (1) | Respond to of 5205
 
I'm kind of locked in because I had to buy the puts to prevent a loss. If I'm calculating this right, it looks like if you keep writing OTM calls of at least $0.60, your cost basis will be zero in 8 months, (4.80/.60).

I wish I could've done that with QQQ. I have about 2000 shares I've been writing calls on. About half of those are down to $29.

I luv this stuff,

Dominick