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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 (7532)	5/29/1998 11:00:00 AM
From: mc	Read Replies (3) \| Respond to of 14162

Herm or anyone else out there who might care to comment: I bought SESI at 8.5 in March and currently have a nut of 7.30 When the stock was on the upper BB I sold the Jun-10 in the money calls. Since then, SESI has hit and bounced off the lower BB and RSI is starting to move up. Unfortunately, I haven't been paying a lot of attention to it this last week and missed the chance to buy back the calls at the turn up a few days ago. In a situation like this, do you buy the calls back (still profitable) and be grumpy about missing out on some profit by not buying them back sooner or would you risk letting the stock get called away? SESI currently trading at 9 7/8 x 10. Thanks, Gary

To: Herm who wrote (7532)	5/29/1998 1:42:00 PM
From: Pete	Read Replies (2) \| Respond to of 14162

Question on getting called out This may seem like a naive question, but I have to ask it anyway since, after reading up on the subject, I haven't found the answer. If a stock I have written CC's against reaches/exceeds the strike price, or if I write an "in the money" CC, can the stock be called out at anytime up to the expiration date? If so, what are the chances of being called out before the expiration date? From what I've read here, it seems like the expiration dates are the critical times when people think about rolling, or deciding to accept the possibility of being called out. So this leads me to believe you don't get called out until the expiration date arrives. I was always under the impression that a holder of an option could exercise at anytime up until the expiration date, so that's why I'm wondering if stock for "in the money" calls I write can be called out anytime, once the stike price is reached. Pete