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If you knew the direction with certainty, you could write options and buy them back at a later date after the time premium eroded a bit, locking in your profit. If the equity is going up; write puts. Down; write calls. Of course, options (unless you're writing deep in the money options)...

Nell Spot, I have some free options software you can download from my website: http://www.options-trading-resources.com/Option-Trading-Software.html Enjoy, Regards, Steve http://www.options-trading-resources.com/EliteTrSig Option trading information and tools the pros wish they...

ScottS, Welcome, are you new to trading as well, or just options? Here are some good places on the web with free information. You'll also find some good links at my web site http://www.options-trading-resources.com/EliteTrSig 888Options “What is an Option?”...

You're welcome, Gordo. Good Luck. Regards, Steve http://www.options-trading-resources.com/EliteTrSig Option trading information and tools the pros wish they had! A former Chicago Mercantile Exchange employee reviews stock option trading software, books, and web sites and online income...

Gordo, I like to use Poweropt.com. They have some great screening tools, and each symbol is directly linked to BigCharts. Here's a link to a review that I wrote that also has a link to a free trial. http://www.options-trading-resources.com/Power-Options-Info.html Hope this helps...

Norman, Seems like you've gotten a lot of good advice from the board. I trade covered calls, but one of my 1st rules is that I only trade stocks that I wouldn't mind owning. I'm not worried about being too accurate on timing. If I get called out and make my maximum profit, great. If the...

Sharp10, I subscribe to his paid newsletter and also listen to each of his podcasts everyday. I do not subscribe to his highest level membership. I like the site and find it useful, but I get turned off by the constant bombardment of junk mail I get from them. What type of information are...

WayneL is right, the option's delta will determine how much the call price changes relative to the stock price change. Your loss on the call increase is offset by your gain on the stock increase. You can easily calculate your maximum return whether you get called out or not. If you're not...

I second New Insights on Covered Call Writing, I did a review of it on my sight, http://www.options-trading-resources.com/covered-call-option-insights.html, You might also check out Covered Calls: A Wealth Option, which I review at...

nirav, I use InteractiveBrokers, not Ameritrade. However, it should not be a problem for you to buy the puts and calls outright and then sell them. You probably would not be able to sell options short. Hope this helps. Steve Rosenbaum http://www.options-trading-resources.com/EliteTrSig...

Lasner, I'm using O'Trader to track my options writing. It has excellent reporting features. I would simply use the info from the reports and create graphs in an excel spreadsheet. You can read a review of O'Trader on my web site at...

Lasner, Please forigive the self-promotion, but I think I can address your question. I'm a particular fan of covered calls. I'm averaging a nice return and have taught the method to my 17 year old who is also doing well. I've written some articles about it and featured some books that might...

I can't believe there's another Bobby Murcer fan, especially one that trades options! Bobby Murcer was a friend of the family during his first stop with the Yankees, Giants and Cubs. My brother went to his wedding in Tulsa in 1966! We've been out of touch since the late 70's, but your...

I'm writing a book about options traders and would love to hear your stories. What was your best play? Worst disaster? How'd you get started? What advice would you give beginners? What's your favorite strategies? Whatever you feel like writing about. You can post it here, but ultimately...

www.poweropt.com has paper trading in the My Portfolio section. This is a very good site with lots of excellent tools. I use it to evaluate positions and trade with IB. Good Luck, Steve Rosenbaum http://www.options-trading-resources.com/EliteTrSig Option Trading tools the pros wish...

Bernie Schaeffer is a master at this. He has an excellent website with this information at www.schaeffersresearch.com. I subscribe to 3 free newsletters from his company that often feature opportunities using these values. Good Luck Steve Rosenbaum options-trading-resources.com Option...

ldrake, I have also used the materials by compoundstockearnings.com. They focus on covered calls with stocks and LEAPS. What I like most about it, is that they clearly outline strategies to identify good covered calls opportunities and they detail management strategies of the positions...

sps, I don't ever like to take a loss. If you get called out you lose 1.20 per contract on a position you've held for 2 years. Obviously, not a profitable trade. Instead I suggest you buy back the call, lock in a 3.80 profit on the call and get ready to do it again, this time with better...