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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 (10952)	6/4/1999 8:00:00 AM
From: William S.	Respond to of 14162

Herm, Thanks for the welcome and the feedback on amtd. I will watch this one closely and look at a possible long put to protect the downside. I like this thread and hope to learn and earn. Thanks, Bill

To: Herm who wrote (10952)	6/4/1999 11:27:00 AM
From: Jonathan Thomas	Read Replies (1) \| Respond to of 14162

Hello All... I wanted to write again, and (ongoing case study) let you know about my NOVL position. As you may remember, I own NOVL, 700 shares NOVL @ 23 (last month) NUT 20 5/8 Sold 7 Aug calls @ 2 3/4 Bought 7 Jun Puts @ 3/8 Now, the stock (as predicted, pulled back, but not as far as I would have hoped. So, my puts have lost time premium, calls dropped to a low of 1 3/4 (currently back up to 2). RSI is low, Stochastics starting to turn back upward. I am going to sit on this, because there is too much time premium left in the calls, and I will have to wait for another "cycle". Preferably, the stock dropped a couple more points, sell the puts at a profit, buy back the calls, but it didn't come back far enough. I want to keep everyone abreast of the situation, and I didn't get to my computer in time to write this before the open, NOW, NOVL has started its climb back up, would have been a good time to get in, and still may be on a dip. Let me know if anyone has any thoughts/ideas/suggestions. I'm always looking for better angles... Ryan