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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 (4356)	3/16/2006 10:03:52 PM
From: alanrs	Respond to of 5205

I wrote one QCOM April 52.50 this morning for .90. It's the third time I've written that one. Of course I should have waited since it was up over $1 for a while today, but I've watched the pop from analyst upgrades deteriorate many times and there is a certain satisfaction in the hat trick. There's also expiration tomorrow, and I've got to believe there will be some large effort to close it below 50. I still own a very disproportionate amount of QCOM, and sleep very well at night regardless of what the market thinks of it at any given time. Since I last posted I bought back the SNDK April 75 call, sold the SNDK April 45 put, and bought that back also. Did something similar with OVTI. Sold a CREE April 35 call, and rolled the NTAP March 35 call out to April. A $100 here, a $100 there. Life is good. I really like selling covered calls. They keep me engaged without being too stressful or time consuming. Regards ARS