Louis,
I appreciate your dilemma. It's the old risk versus reward thing. I don't have a brilliant answer for you. Perhaps we can get some other posting that have used different approaches to this.
Michael
www.safe-options-
--- In ConservativeOptionS
>
>
>
> --- In ConservativeOptionS
> Michael,
> That's what I'm doing, but of course that takes some, or all, of the profit out of the CC sale. I'm compensating for that by selling an OTM cash secured put. If I want to get out of a stock though, I have to buy back the CC which raises my cost back up. Since stock prices and option bid/asks are continually changing and I'm trying to be alert to both opportunities and dangers, I'm looking for an optimal record keeping method.
> Lou
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> <michael@> wrote:
> >
> > Louis,
> > I cannot recommend any software but I will mention you may wish to collar your longer-dated and already profitable cc with a protective put.
> >
> > Michael
> > www.safe-options-
> >
> > --- In ConservativeOptionS
> > >
> > > Since being burned too often with trailing stops, I'm trying to develop a method of protecting my downside while still maintaining profits.
> > > Combinations of strike prices, option months, option combinations, rolling up, rolling down, etc, etc gets tedious to track on an ongoing basis on an excel sheet when I'm using different option combinations for different time periods on different underlyings.
> > > Does anyone know of any prepackaged software that will enable me to track relatively automatically, for instance, cost and current price of underlying, cost or premium of options used, profit or loss on any rollups with cost or premium of new option positions, all resulting in a final profit or loss on any sale as well as open positions?
> > > Thanks for any help.
> > > Lou
> > >
> >
>
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