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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 (8372)	8/26/1998 6:21:00 PM
From: Petrus	Read Replies (2) \| Respond to of 14162

Could anyone guide me as to the following: Say I have 1000 shares of Dell. Price today 124. If I wanted to sell the Sept $130 calls & receive $5 premium. How can I write the calls and not loose out on the upside ? Lets say 2 days later the stock hits $130, what should I do ?, buy the call in the market ? buy more shares in case they are called in ? or risk the upside ?. Can one place stop orders on options & hold them as insurance in case the option is excersized, just in case the price reaches or surpasses the strike price ? I am new to options and have not traded them, except for selling very out of money covered calls on certain ADR's. Is there a way to do this ? Would appreciate your comments, Good fortune to all.