Replies to post #695 on United States Antimony Corp (UAMY)

[nbm16yankees]

jrf30,
Thank you so much for your explanation.
I followed you on all your points and really
appreciate all the time you took.
I have been writing calls and keeping the premiums and
writing again as you have suggested.
However, instead of letting them call away my stock,
I sometimes buy back the call and go out to the next cycle
increasing the strike price. I have been having success that way.
I did sell some Nov $2.50 Puts that I am waiting to buy back at 3 cents.
Here's a dumb question for you...
If I dont buy it back and close the position, what happens if the stock is
above $2.50? Below $2.50? Does it get "put" to me at $2.50, thus if I
sold the Put at $1, in essence it only costs me $1.50?
BTW, just saw that the $245 million contract was awarded.
Thanks again for your help....VERY MUCH APPRECIATED.

[jrf30]

Yo Yankee fan.

"In fact, I think I "may" have convinced myself to buy back in again tomorrow, especially if it moves a little in the morning, and then write the calls. I have a hard time saying no to 11% in two months."

Pulled the trigger. Again. Seems I make profit each cycle, but still buy about the same number of shares the next time around, because the price is higher. But, I did more this time, as I sold some other positions on Friday as well.

In at $6.51 and wrote the November $5 calls at $1.93. My net a little higher than if I did them yesterday, but yesterday was quite the move after the news. I still think if it goes below $5, it is a great price, so buying here with the calls works for me. In at a net of $4.58, and I think the odds of it over $5 in November are pretty good. If not, I'll own it at $4.58 anyway, which again I think is worth owning it so I'm fine with that. If called (As expected), gain of $0.42 per share on a $4.58 investment, or 9.17% in 2 months. Didn't even have trouble selling 1,600 call options, which is a major change in the stock. That would have been impossible a year ago, even at the $1 options that traded then. So all good. Just need it above $5 for 60 days, and I think that is pretty good odds. :-)

back to lurching now. talked too much over last week.