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

To: Uncle Frank who wrote (3714)	5/7/2002 1:39:02 AM
From: BDR	Respond to of 5205

<<At this point, I'm more concerned that I'll have to keep the underlying.>> That is a problem. Bought back today for 0.10 my BEAS June 15 Calls that I sold in early December for 4.50. That was a buy/write at 16.50. I can buy back cheap the SEBL May 22.5s I sold in Early December for 6.20 but the stock, bought then for 24.50, is cheaper, too, and still dropping. My put spreads on OEX are all firmly ITM now, so I just have to wait for expiration. Today I bought May 28 QQQ Puts for .35 and a few Junes for .95. Gloom and Doom. I am much happier making money writing covered calls but one has to go with the flow.