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

To: dealmakr who wrote (5177)	5/20/2011 8:41:34 PM
From: Robohogs	Read Replies (1) \| Respond to of 5205

Anybody else here feel like they take the bad trades and pass the good ones? Wow! I priced the RRGB lottery tickets and liked the odds but passed to save the money as it was a lotto tkt. Would havebeen a 10x in 1 day for small amount. Instead, take a bearish skip strike butterfly on CRM (where I had been bullish) given earnings reactions to date. Absolute wrong moves. That said, I was bailed out of 2 losing trades in last 2 hours - Aaple short call spread starting at 335 (stayed in as it hedged other positions and was 2-1 upside downside) and losing LNG long call play. I woke up at 3:30 to close stuff out and was stunned in LNG (minor profit from modest loss) but was not surprised in AAPL given the seekingalpha articles guaranteeing the max pain point ALWAYS worked at 340 without saying which day's and with complete assurance. I figured if it lost the 340 strike 335 could come quickly. And I needed the negative delta to balance out. Also good month in ALGN which closed at upper bound of short strangle and MMI which got back to low end of a range I had been using. JKS also generally very good to me. YHOO killed me as did RIMM and 2-3 small plays so pretty disappointing minth with my biggest 3-4 plays all good except for RIMM. Jon

To: dealmakr who wrote (5177)	5/22/2011 3:08:27 PM
From: ValueGuy	Read Replies (1) \| Respond to of 5205

dealmkr thanks for the advice...its crazy out there...just barely managed to keep my head above water in the past 2 weeks... like you my covered call positions have taken a hit...though pretty sure i made some bad choices out there...hope the pain won't be that bad! picked up a book over the weekend 'The Complete Guide to Option Selling', written by James Cordier and Michael Gross...interesting stuff, they advocate selling options in futures...mainly commodities...have only read a few pages but hope to try a few new things as the weeks go by... all the best to everyone for next week...it promises to be another bumpy ride!