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Austin Craig

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  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    LOL how is it misleading?

    I bought at 21. Sold a 22.50 call on a portion.

    Stock leaps up as i thought it -might-.

    Buy back 22.50 call and sell a 23 call for MORE profit, rather than making Less profit by holding the 22.50 call.

    Yes, If i had never sold any calls i would have made more money on that portion. Yet on the flip side if i were wrong on my assumptions then the stock might have gone down and i would be negative.

    I've been selling calls for years upon years and it is very profitable especially when a stock is flat for a day, week, month. Heck I had a chuckle a few months back when mr. market was offering a 2% gain on a 1 1/2 day call on Micron.

    If calls are not for you thats fine. Everyone has his own investing style but dont knock whats very profitable.
    Jan 14 09:01 AM | 1 Like Like |Link to Comment
  • OCZ - The Master of SSD (Shady, Suspect, Deceitful) [View instapost]
    bankrupt now. lol
    Jan 13 10:13 AM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    And I only did this on a Portion of my holdings.
    Jan 12 11:37 PM | 1 Like Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    Yea.. i rolled them forward. Basically DrGoldin you buy the stock cheap at say 21 and then sell a call at a 23 strike. IF the stock goes to 23 or higher they take the stock from you at 23. You make a 2 buck profit here AND the call premium. Yes, I would have made more if i had not sold a call but at the same time nothing says the stock has to jump up. It could have went neutral where i could have made 0 on the spread and still captured the option premium. If the stock went down id have lost on that portion but made a call premium.. hopefully more than any loss that one might have incurred.
    Jan 12 11:36 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    pretty good actually. I had sold some 22.50's when micron was 21 a share or so on a portion of what i owned.

    did the math and after it popped covered the 22.50s and sold 23's. so yea.. im quite happy with it. Made a profit on both portions.

    Will reload next week and sell more.
    Jan 10 06:01 PM | 1 Like Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    Just a typical day in the stock market. Usually you have a run up before earnings and the people jump on board. IF they beat the stock pops and then well.. it has little momentum to keep it going so you have a pull back. Just imagine a 4th of July fireworks display and when its over .. well.. its over.

    This is not to say after a small break the stock cant continue to go up.
    Jan 10 12:30 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    Ha!

    Tis true..
    Jan 6 05:52 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    If you would care to point out what scares you i'm sure I could help you and this irrational fear.
    Jan 5 11:04 AM | 1 Like Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    very true
    Jan 4 03:41 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    I'm not a fan of selling puts as I've had some success w/ it but I did get burned one time when a stock took a nasty 50% drop in 1 day. So i was forced to buy at 10 a share while the stock was trading at 5. ouchy.

    Thank goodness it was only for a few contracts.
    Jan 4 03:40 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    Old saying applies here... "you can't go broke taking profits".
    Jan 3 05:57 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    Everyone has different styles. Selling a covered call on a ~portion~ of your holdings wont kill you. lol
    Jan 3 04:22 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    Maybe Wallstreet likes MU and just wants you to Sell. Its not like the brokerages in the past have ever done anything like pulling out the word to buy or sell and then doing the exact opposite.

    Generally I just ignore the brokerages. The simple fact is SSD is growing by leaps and bounds. In 5 years it will have ~vastly~ higher penetration.
    Jan 3 04:21 PM | 4 Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    I'll have to check out that website. I think you nailed it on the head COBeeMan. My strategy mirrors yours.
    Jan 3 04:18 PM | Likes Like |Link to Comment
  • Micron And 700% Sector Growth - Let The Domination Begin [View article]
    I've had quite a bit of success over the years selling short term covered calls on a portion of my holdings. Key word here is portion. I would not sell covered calls against ALL of the MU I own b/c of the very reasons you pointed out Sir.

    Still,,, It is enjoyable to have a weekly or bi-monthly revenue stream flowing in to put to work in other places while still maintaining price appreciation potential.

    Note: I'm not knocking anyone for disagreeing w/ my view of covered calls. Its just a strategy that has worked for me.
    Jan 3 09:18 AM | 2 Likes Like |Link to Comment
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