Replies to post #29 on Maksims Covered Call Options Forum

[yuccamtn]

Thanks for your response. I have a strong core holding in AUY from about $4.5. I have most shares uncovered to let it run. But I have a few April 10 and April 12 calls for about .5 to pad the yield.

What I was thinksing is that it has made a large run-up and might be falling in a near-term if market dives. So (to protect a percentage of the shares) the Apr 6 calls would be good downside protection and a 33% yield if the stock climbs.
Is this wrong thinking?

I haven't had good luck in the past with next month options. I usually guess wrong about direction, and the small OTM premiums don't really protect that much. Very confused guy! In short is it bad strategy to try to time the market using covered calls?