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LSI Corporation Message Board

  • vandalia_abe vandalia_abe Mar 21, 2001 9:01 PM Flag

    Bought covered calls back, then sold

    them in the same day. Holy shit, I'm turning into a day trader! Got suckered into LSI's unusual uptrend in the face of a down market. Thought there might be some news we don't know about. I had to do it though, just too much damage on my blue chips today. Telecoms, financials, small cap mutual fund, all tanking really bad. Fortunately I made 30 cents on the buy & sell. The best I can calculate, is 5 more days like this one, and I'll be right back in a house call again. Let's see, that would be about another 1000 point decline on the Dow, and 200 points on the Nas. Will have several covered calls expiring in April, the problem is, unless I rewrite them, that won't really free up much cash, and I don't want to rewrite at these levels.

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