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After talking to the options forum, I'm going to sell some covered calls on Monday I think.

thanks guys. I think pberndt was just trying to confuse me.

Good, that's what I figured.

Wait, if you are short calls you have to pay dividends? I know if you are short SHARES you have to pay dividends, but calls? Really? So if you BUY options then you get PAID dividends?

I have 936 shares of SPY with an average price of around $126.50. I'm planning on selling them at $134.50. Since I'm planning on selling them at $134.50, would it not make sense for me to write covered calls on them and get paid to wait for them to hit my target profit? Help me...

day one of teasing complete. I should write a few 134 or 135 calls. Since I'm going to sell around there anyway I might as well get paid to wait for price to hit that level, right? I could write like 9 calls and then sell the leftovers manually. Opinions?

Price will probably go down and tease me for a few weeks now.

Average into it. Price cannot be predicted, but if you are POSITIVE that it will bounce at some point (rather than going to zero), then average into it as price goes down, sell when you're in the profit. Or try it with options.

So it's free + you get paid if you don't make money? HOW CAN I LOSE!

Profit target is $134.50. So close. Currently up $6,677.40.

mad resistance for the last 3 days. So close to profit target!

Tight stops with no wiggle room requires picking tops or bottoms and then hoping there aren't any pullbacks. If anything, I was thinking of making my stops even wider.

Ok. How do I know which ones? That's very similar to what I do in my long term stock trading account. Ok.

$5-6 per share. Go rally go!

yeah they didn't look like normal bollinger band distances to me, that's why I asked.

Can you elaborate?

I tend to like most of what this guy says, such as his logic for why all trading systems are BS and if anyone had a profitable one they wouldn't sell it, why brokers want you to trade frequently, etc. Then you can read on and see how he made $100,000 in the first year and then got greedy and...

are those fib bands? Do you use them to identify counter trend entries?

So here's a vid: http://www.youtube.com/watch?v=aQm7YpxgOnA And here's a site with instructions: How to use a neti pot Are these things for real??? Have you ever done it? Did it help?

thanks for all these sources guys :D