Thursday, June 18, 2009

[TheOptionClub.com] SuperPut - SID



I have not posted hardly at all in this group since I spend most of my time int he Just Covered Calls group. But they don't want me to talk, discuss or even mention SuperPuts in that group.

A SuperPut is a Covered Call with a long-term protective put. The idea is to use the Put as protection and continue to write Covered Calls against the underlying until the time is right to exit - depending on many factors.

The term SuperPut is a trademark of the CallWriter service and web site. I am an avid subscriber to that service and I have been studying SuperPuts for a few months now. I decided to open on in my demo account at Interactive Brokers and test the concept in this undecided market.

I make a lot of demonstration videos and I made on entering a SuperPut on SID today using TWS Option Trader. You can catch the video at YouTube (http://www.youtube.com/watch?v=itVVh8--4Eo) or on my blog at http://buywrite.wordpress.com (it may take a few hours to get it posted on my blog).

I plan to keep producing videos on this trade as I make adjustments and finally exit in the future.

Comments and inputs are welcome.

Jeff W.

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