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

To: JohnM who wrote (3464)	3/1/2002 5:00:48 PM
From: Uncle Frank	Read Replies (1) \| Respond to of 5205

>> I picked up $.80 a contract on the Sebl's by selling them back for $1.20 yesterday; then just sold them again for $1.75. When it gets good, it gets good. That is good, but maybe not quite as good as you think. I'm still in the game <lol>. You wrote at 2.00, covered at 1.20, and re-wrote at 1.75. If you hold until expiry and the calls are worthless, you'll have gained 2.00-1.20+1.75=2.55. I wrote at 2.40 and have stood pat. If the calls expire worthless, you'll only be .15 in the lead. But you also will have incurred an extra set of commissions, not to mention the mental anguish of having to make two additional trading decisions. I'm betting there will be a few more twists and turns in this contest :-). Race ya <lol>. duf@avoidingboredom.com

To: JohnM who wrote (3464)	3/4/2002 2:36:38 PM
From: FaultLine	Read Replies (2) \| Respond to of 5205

Took a pass on Qcom. It still scares me. I bought some of the QCOM at about 32 the other day so I'm looking to write some contracts on it today. Currently Q is at 38.45 with the MAR 40 AAWCH at 0.90... Whoops! Just went up another nickel and my sell calls to open order I placed earlier this AM was just filled. I asked at 0.90 when the contract was at 0.70 earlier today. Just printed 1.00, great, I'm losing money already. :o( Oh well...now we wait for the dip. (which reminds me, where is Frank?) :o) --ken/dfl