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

To: assetlogic who wrote (3372)2/8/2002 5:31:03 PM
From: Dan Duchardt  Read Replies (1) | Respond to of 5205
 
Wow, this board has gotten quiet.

Well just to break up the silence a bit. I've not been doing many CCs, but I happen to have a couple going at the moment. I own MU at 36.40 as part of a buy-write before the 9/11 effect. I'm now short FEB35 at 1.70 lowering my cost basis after a few rounds of calls to around 28. I'm perfectly happy if I get called out on it. If not, I'll probably sell MAR35 or APR30. The extra premium for the APR35 compared to the MAR35 is not all that appealing. That's not much time premium for the APR30, but if MU closes a ways below 35 it will probably head lower, IMHO. If it runs up on me, I'll buy a protective put, cheap.

I also own RMBS with a short 2003JAN7.5 call. The call was sold anticipating a serious dip at some point. Looks like this is the one. I may cover it next week if the market confirms today's late day rally.

Dan



To: assetlogic who wrote (3372)2/8/2002 8:26:28 PM
From: alanrs  Respond to of 5205
 
As has been pointed out, the premiums aren't worth much in most cases, so I haven't written too many calls recently.
However, being the original BAG HOLDER that I am, I have been selling puts (cash covered) on TQNT, ARMHY, CREE and QCOM, along with outright buying of the same names, and a little trading of a few others (RSTN & IGEN). If the world does not end in the immediate future, there will come a time to sell calls, and I'll have a lot of ammo.

ARS


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