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

To: FaultLine who wrote (3468)	3/4/2002 2:46:18 PM
From: JohnM	Read Replies (1) \| Respond to of 5205

I'm still hesitating, Ken. I started the morning with a plan to write the Qcom April 40s, or at least to think seriously about it. Watched the market, however, planning to get the best price. I could get a much better one now but I'm back to hesitation. Or being careful. Take your pick. Interesting part of my situation is that I have March 35 calls purchased at $4.80 which I bought on that first quick dip to below 35. I could have sold them back when they were about $7.50 when Qcom went quickly above 40 but was certain Qcom was going higher. As usual, I should have followed that traders' advice, take my profits, don't get greedy. McMillan even has a strategy for precisely that situation: put the $4.80 back in the bank; buy new calls with the $2.70 of winnings. If you lose with them, no big deal. However, I've got those Siebel April 35 ccs and Ntap April 20 ccs running around out there waiting for a dip. John