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

To: Dr. Id who wrote (3730)5/8/2002 12:59:39 PM
From: FaultLine  Read Replies (1) | Respond to of 5205
 
Myself, I have no idea (I am still shellshocked and have no trust in my judgment regarding the market anymore!)

Dr, Id,

Well, you certainly gave me some perfect advice way back in January when QCOM was 45 (now 28).

I had said:

I'm hoping we can get back to a break even for me then I'm considering pulling out and waiting a while or looking for another opportunity.

and then you said:

Ken,
If you're as pessimistic as you sound about QCOM, why wait for a break even? Why not get out now? I've made many mistakes, one of which was to wait until I was "even" on a stock, only to watch it go down further. I think the mistake that we make when we want to "get even" can be called "ego investing".

--dfl@didnotdoitegoandcheckbookcrushed.pov



To: Dr. Id who wrote (3730)5/8/2002 1:30:29 PM
From: JohnM  Respond to of 5205
 
Recent history would argue for the blip.

I'm a recent history kind of guy on this one. I'll watch it for a few days before deciding to do anything. Did a quick check of option prices on QCOM, NTAP, and SEBL. It looked as if I wrote far enough out to cover the longer legs argument I did not get enough premium to make it worthwhile. Writing closer in for the higher premium left me too vulnerable.

Classic call writing problem.


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