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Strategies & Market Trends : Buy and Sell Signals, and Other Market Perspectives -- Ignore unavailable to you. Want to Upgrade?

To: GROUND ZERO™ who wrote (54085)	8/28/2013 4:02:09 PM
From: Machaon	Read Replies (1) \| Respond to of 222103

I probably would have gone with the Sept 23 calls ... The 21 calls are very safe.. I looked at the 23, 24 and 25 calls. Buts... the amount of money that I would make was not enough and did not give me any protection against the downside. With a covered call, in the money by $2.50, I took most of my profit, and I am still a player (to the downside), with much less risk. As you had also indicated for yourself, I am satisfied with my gains in SLV this year. Sept 23 calls, they're just in the money and still have enough upside room for more gains in case they do rally, I am confused. How would there be more upside room by selling the $23 covered calls? My only other position at present is XLU, which I hold for the relative safety and the dividend.If it goes below $37, I will pick up another chunk. Thanks!