The 21st-Century Covered Call by Robert J. Seifert
Are you tired of writing covered calls only to see your stock get called away as it heads into the stratosphere? Here is a strategy that professional traders use to kill two birds with one option.
When I began trading options in 1983, one of the hardest trades to execute was to buy a put to protect against the downside risk inherent in the market. The problem with buying puts then and now is that the price you pay for the protection is high and its very hard to overcome the premium loss ...