Replies to post #120 on Covered Calls

[gtober]

Yes, I think you can see the power of this strategy. Time decay is a powerful ally. Like I said, I don't know really if all options is better or worse. You do take a lot of aggressive positions with the covered calls. What one has to do is determine if a less aggressive condor is more or less profitable, once you factor in the maintenance.

I think I am going to order McMillan's latest and see if I can find time to read it this summer.

[gtober]

BTW, a hugely bearish formation for oil.

http://stockcharts.com/h-sc/ui?s=$WTIC:$XEU&p=M&b=5&g=0&id=p56566347022&a=133182185&listNum=1

[gtober]

DUG is looking weak. If it breaks below it's most recent low I will consider rolling my calls down a couple of strikes and capture more premium while still in May. As long as the low holds, I think I'll stand pat. My calls are written at $36.