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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: tuck who wrote (10728)	5/11/1999 2:09:00 PM
From: Jonathan Thomas	Read Replies (1) \| Respond to of 14162

Tuck, I bought those puts because I didn't want to pay much more than a 1/4 if I could help it, up to 1/2 if the position was good. I'm bullish on NOVL, so my plan is to hold them as protection if the stock tanks. BUT, I will sell them at a profit (and buy back my calls if they depreciate to under a 1.00) on a dip IF, and ONLY IF the chart looks like it will reverse. In other words, I'll sell the puts and buy back the calls, preparing to run the whole process all over again on a DIP but not on a TANK. If the stock tanks, I'll let the calls expire, and sell the puts when it finally bounces. This should still keep my nut below the current price of the stock, and I can continue CCing without missing a beat. I'll have more cash in the account, and still have 700 NOVL shares to play with. I bought 7 contracts to keep pace with the number of shares I own. So far so good. The stock has performed perfectly for me, lets hope it continues...I'll take a look at EDFY, what is your current position in it? Ryan

To: tuck who wrote (10728)	5/16/1999 9:06:00 PM
From: Toni Wheeler	Respond to of 14162

OT <<<P.S Tuck is from my middle name Tucker. You can imagine what I went through in high school!>>> My nephew's REAL first name is Tuck...I had never heard of another Tuck until you!! I don't have a clue what was in my brother's mind when he named that precious baby boy!!! Well, my worst fears were NOT realized, and 17 years later we don't even think about the 'different' name and evidently neither do the kids he has grown up with....now going to college and meeting NEW people might prove to be trying....!!!! My best, ~T.