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A Decent Covered Call Play, maybe, hopefully
Old 11-21-2005, 12:10 PM   #1
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A Decent Covered Call Play, maybe, hopefully

Lost my PWAV to 12.5 calls last week, and though I still like the stock I decided to put that cash elsewhere.* Bot HOM for 6.83 and sold the Dec 7.5 calls for .50.
HOM is a reconstruction company that is set up to make hay in the hurricane zones among other things.* The calls provided about 7% for 4 weeks work, and if called in Dec another similar* amount.* This one has its risks and it has run up a fair amount already over the past few months.
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Re: A Decent Covered Call Play, maybe, hopefully
Old 11-21-2005, 01:03 PM   #2
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Re: A Decent Covered Call Play, maybe, hopefully

Quote:
Originally Posted by davew894
How'd you get $.50 for the December calls?* I'm showing a bid of $.10 (HOMLU)and the stock is up $.24 today.
The first 60 or so contracts went for .50 and .55.* Then, as you noted, the bids slipped to .10.* Always got to be fast on the thinly traded options cause the bids frequently are not real deep.
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