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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 (8631)	9/21/1998 10:30:00 AM
From: Douglas Webb	Read Replies (1) \| Respond to of 14162

I realized that my options were to follow the mechanical trading system we've developed here, or to follow my emotional gut instinct... So far my gut instincts have lost me way too much money, so I'm following the system: I sold my 3 Jan 5 calls for $2.25 I wrote an additional Jan 5 call for $2.25 against my measly 150 shares of BTGC. I bought 10 Jan 5 puts for 3/8, which was nice since my limit order was for 1/2. I've been getting some good limit fills from Discover lately. (I've noticed that the volume I generate doesn't show up in the real-time quotes for hours; I think there might be something odd going on here.) All this happened in the first five minutes of trading today. My bear trap is set; let's see if BTGC falls in. Doug.