Covered Calls for Fun & Income

February 25, 2009

Update – AGU

Filed under: Covered Calls, Investing — Tags: , , , , , , , , — Jeff @ 11:54 AM

Well, I have not pulled the trigger on this as of yet. Notice on the chart where the 20 & 50 MA are consolidating on price and STO is weakening. I really wanted to enter this trade a few days ago, but now I am not so sure. If I follow my trading plan, then I have to move this into the background.


I haven’t found anything on the CallWriter lists that has excited me so far this week with the exception of NVDA. On Monday I bought the stock for 7.35 and I am waiting to sell the Call. I cannot wait any longer than 3 days, so I need to make a decision whether to proceed today. Right now (about Noon EST), I could simply bail on the stock for a decent 7+% gain – but I will hold off for a while. I have a Limit order in to sell the MAR 7.50 Call for 1.00 (if called is a 18.1% gain) which I may lower later.


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