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I read a thread on another board (vacations etc)
whereby the poster says they use a covered call annually on a particular vacation industry-type of stock for a specific purpose because of the regulary cyclical trends.

What is this and how do I utilize this strategy?

Thanks
fogfog
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Covered call - when you have stock, and willing to sell it for specified price, before or on specified date (3d Friday every month).
1 call - 100 stocks.
You hope stock goes sideways or a little bit up, because if stock pass strike price it is going to be taken from you.

Good Luck
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Check out this article about covered calls. It should explain most of your questions about the strategy:

Basic Options Strategies: Covered Call
http://www.theoptionsinsider.com/tradingtechnology/?id=206

Hope that clears things up for you.
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