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Worden Discussion Forum » Members » jtseitz

Profile: jtseitz
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User Name: jtseitz
Groups: Gold User, Member, TeleChart
Rank: Registered User
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Joined: Monday, December 27, 2004
Last Visit: Monday, January 30, 2006 10:42:39 AM
Number of Posts: 13
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Topic: Who trades options? Who wants to trade them? Post here.
Posted: Wednesday, April 13, 2005 4:59:31 PM
hi,

I use covered calls almost exclusively. use them to hedge against stocks that show technical indicators that indicate that they may be real movers. I generally sell calls in the money or at the money and buy to close when I reach the break even point.

I have been dong this for about 4 months and so far I am a little ahead. I made good money on aapl and lost on ctic. However ctic fell almost 50% overnight my covered calls let me get out with about a 20% loss I wasn't happy but this strategy helped limit my loss.

Jerry