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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 (10388)	4/15/1999 10:02:00 PM
From: Dan Duchardt	Read Replies (3) \| Respond to of 14162

I was out of action all day today. I don't know if it was myTrack letting me down, or ISP/internet problems. Just when I was telling you all myTrack was worth a look. Maybe should have kept quiet. I just checked in on my CYCH position. WOW!!!! Closed up 2 1/4 at 20 7/16. At this point, I'm at full upside potential. If CYCH holds or keeps going I will gain $1 11/16 on the May lot and $4 on the June lot, well below the potential with David's suggested position of just selling the May20 calls which would have me up $3 7/16 on the whole position at exercise in May! I'm content with the smaller gain for the sake of the downside cushion. I've looked at puts for further downside protection, but too pricey right now. It CYCH does take off, I'll probably go for some puts to protect the June lot, but they will have to be cheap (well under $1). Any suggestions are welcome.