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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study! -- Ignore unavailable to you. Want to Upgrade?

To: RDHickman who wrote (7210)4/1/1998 5:58:00 PM
From: Douglas Webb  Read Replies (1) | Respond to of 14162
 
Welcome to the thread, Dick. You've got ABTI scars too, huh? I lost a great big chunk of my portfolio on that one too. I also lost big on INVN and UGLY. All in all, I've dumped $15,650 into the market, and my current net worth is just $6209. I'm working my way back up though; my low point in early January was under $2000!

My main strategy now is to be invested in Creaf (which rose just a bit above my net cost today) and to do 100 share buy-writes when I've got enough buying power, and I can get at least $2.50 - $3.00 of time-value. So far I've got 800 shares (net cost $23.2357) with 4 outstanding option contracts: 2 Jul 22.5 @ $2.6624, 1 Jul 15 @ $7.4749, and 1 Oct 22.5 @ 5.4749. (The nets are all after commissions.)

Assuming Creaf stays above $22.50, in July and October, these option contracts are worth $10,077, and they cost me around $8600 in stock, which is a 17% return. Not bad, considering that I started the year down 90%!

Anyway, I'm still learning how to do this stuff too; I only started last May. If you feel my feet are worth sitting at, I'd be very pleased, but I'm no master; at best I'm a yellow belt (or whatever color is one step up from novice.)

Doug.



To: RDHickman who wrote (7210)4/1/1998 6:03:00 PM
From: Zach E.  Read Replies (1) | Respond to of 14162
 
Dick,

Welcome to the thread (I'm not much of an ambassador, as I
am mostly a lurker these days). Good luck with your
trading.

I'm curious, what did the Barron's article say?

Zach



To: RDHickman who wrote (7210)4/1/1998 8:07:00 PM
From: Herm  Read Replies (1) | Respond to of 14162
 
Dick,

Investing in the stock market is a long term process with constant learning. I'm still learning and refining my skills. Eventually, your profits will surpass your losses. Notice, I did indicate losses. A better description might be GIVE BACKS! I have NEVER met a single person who did not give back to the stock market at one point.

If you are willing to learn from others and learn from your own mistakes you can pull some big bucks out of the market.


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