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

To: kelseysuncle who wrote (4972)	5/20/2008 1:22:09 PM
From: Uncle Frank	Read Replies (2) \| Respond to of 5205

>> My QCOM May 45 covered call got called this weekend. I did make a nice return; 45 + .80 on shares I had bought for 40. This morning I sold June 45 puts for a buck covered by the cash from the getting called. Whatever the final result I'll be happy. I get better than 2% for just over a months capital commitment and I might get the stock back at the same cost. :-) There you go! It proves my point about the beauty of writing covered calls against a profitable position. Writing the put was very clever... the icing on the cake :-). Please report back on the final tally.