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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 (4408)	4/20/2006 10:35:39 PM
From: alanrs	Respond to of 5205

I write one or two at a time to keep the emotion out of it, also because I heard that making money with options was hard. One of the reasons (actually the main reason) I wrote that long confusing explanation of how I go about this is that I have found that making money in options is ridiculously easy. I'm a dumb ironworker who puts in limit orders outside the spread and goes off to work. I have no special training. I don't even believe I have any special abilities. I haven't read a lot of books on the market. I work off this plain old Dell in the basement. What information I get is from SI or Ihub posters (bless their souls), and it is often late and slanted. Now that I can spend more time doing this I'm trying to up the ante some, but I seem to have a superstitious streak and I'm sure the minute I start patting myself on the back for being such a smart fellow is the minute the option gods take their revenge. On the one hand I've had more than one run of 100+ profitable completed options transaction in a row. Last year I had 2 of 95 transactions loose money ($4.00 total), and I'm sure it was because I bought them back so I could sell the stock. So far this year I'm 60 for 60, and will be at least 64 for 64 by tomorrows close. Six years of this is a large part of why I have 2100 shares of QCOM in that account. I'm trying to come to terms with the possibility that I really can do this, without changing anything that might make that true, including the belief that I really can't do this. I'm probably making too much of this and will just keep on keepin on (to coin a phrase). Thanks again for the post that got me interested in this. ARS