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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: Herm who wrote (7402)	5/5/1998 10:54:00 AM
From: mc	Read Replies (2) \| Respond to of 14162

Herm, you're right about SESI. I bought in at 8.5 and let it run up to the upper BB and wrote the May CC. It has pulled back from it's recent high and I don't expect it to really make a test of the 12 1/2 level which is the strike on the options I wrote. Rather than put some money back on the table and buy them back (the calls), I believe I'll just let it run because I don't think the upside is more than the 12.5 strike. Even if it does run and I get called out I'll be happy with it - one thing I've learned is to never be unhappy with a profit (especially if the profit is 50%+ in a couple of months like this one is). It's when you chase that last penny that you get hurt most of the time. Hope the Tampa trip is a good one for you. Most Embassy Suites have a free unlimited drink happy hour on weekdays @ 5pm for about an hour and a half or so - good hotel choice on your part. You can save that money that you'd have spent on the Coronas for the market. Take care. Good luck, Gary

To: Herm who wrote (7402)	5/6/1998 10:52:00 AM
From: Bazmataz	Read Replies (2) \| Respond to of 14162

Hi Herm and Gary. New to this thread, but good forum. Noticed you posted about oil services sector, which I follow closely. I'm looking to write CCs on GLM, but am not sure about which to write. Looking at July 27.5s, but they're not doing well today. Should've written two days ago. Oh well. Anyway, do you think the July 25s are safe or maybe the June 25s? Not much premium on this stock, I guess it's not volatile enough... Oct 27.5s aren't too bad either. Nice premium and I'm not sure this stock will ever stick above 26 again! I'd appreciate your thoughts. Thanks in advance. Baz