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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: David Wright who wrote (10656)	5/8/1999 3:50:00 PM
From: tuck	Read Replies (1) \| Respond to of 14162

Dave, I tried this idea for the daily and hourly Edify charts. Looking at them, I figure it's got a couple more days of upside. iqc.com iqc.com So I could roll to the May 12.5s when the stock is at say, 13 (shouldn't be much time premium left in my 10s in that scenario). That way I have a fair amount of protection to begin the ride down. I would then hope for the pullback to below 12.5 by the 21st, allowing me to keep that premie, and on the 24th write June 10's. If it pulls back right away, I guess I'll just have to live with the 13% return I already got in four weeks :~} (less if it goes all the way under 10). Maybe I'll get to roll out to the June 10s a little earlier, in that case. This, guys and gals, is what I'm talking about! Comments? Cheers, Tuck

To: David Wright who wrote (10656)	5/8/1999 3:58:00 PM
From: jebj	Read Replies (1) \| Respond to of 14162

>Also, one minute feed for daytrading isn't quick enough to beat the MM's. IQC's real-time feed is also 1 minute, but it updates instantly to current if you whop the recalc button. Top that off with a trade by trade streamer, instant execution, perfect psychological profile, $500,000 minimum..and you probably won't get skinned too badly daytrading. Lots of fun , though. - DW Are you suggesting using the MACD in place of the RSI, David? Will take a look see. As for one minute - agree with your above but the tick by tick does not put enought time period on the screen to follow the trends and I am only using real time, not level II. Also, the IRT program gives me each tick in red or green as well as each change in bid/ask along with the rest of the "normal" charting. Since one can not "daytrade" options like one would stocks - way too much lag time in option prices moving ref. the stock - the one minute seems to work well overall but I am still experimenting so any suggestions are welcome. As for the $500,000.00 account - if I had it I would move to the islands and follow Herm's LEAPS/CC's way of doing things! :) jb