Home Managing an Existing Position

Starting a New Position
      This Tutorial can be accessed a couple of different ways. It can be reached through the Start Menu by clicking the 'H' icon, or it can be reached through the 'Help' item on the menus throughout Covered Calls Plus.
        When the program is first opened, the program logo is followed by a dialog box titled 'Have you received your Validation number?' - which explains how to purchase this shareware for permanent use. This dialog can be returned to at any time through the Initial View menu by selecting 'Help/Purchasing this Program'. When the dialog box is closed, the 'Tip of the Day' form will appear.
        This form contains a drop down box listing general topics, above a text box displaying one of several tips related to that topic. Selecting a different topic will cause the first of the tips related to the new topic to be displayed in the lower text box. Sequentially clicking the 'Show next Tip' command button will scroll through the various tips for the topic that is presently displayed. Once all the tips for the current topic have been displayed, the next topic will appear, along with the first related tip. If you would rather not have the 'Tip of the Day' appear whenever Covered Calls Plus is opened - click the appropriate check box on the form. If you check this box, the 'Tip of the Day' feature will remain manually accessible by selecting 'Tools/Show Tip of the Day' from the Initial View menu. To reactivate the default - uncheck the 'Do Not Show Tip of the Day automatically' check box after manually opening the 'Tip of the Day', this feature will again appear automatically whenever Covered Calls Plus is opened. 

The Initial View
        When the 'Tip of the Day' form is closed the Initial View appears, and you are ready to start the evaluation of a possible new position. First - enter a Stock ticker and then click the command button labeled - '< Enter a Stock's Ticker Symbol, and Click'. Or if you would rather use the keyboard instead of your  mouse, press the 'Tab' key, which will highlight the command button, then press the 'Enter' key. Once the command button is clicked, or the enter key is pressed, the program will search it's library for option information related to the Stock ticker symbol. If the ticker is in the program's library the following information will be retrieved:

With this information, Covered Calls Plus is able to determine which expiration dates are available. If the Stock ticker is not in the library, the program will provide instructions for entering the requisite information manually. Once this information is retrieved or manually entered, the Initial View will expand as illustrated above.
        At this point, the cursor will relocate automatically to the 'Risk Free Rate' text box. Enter the current yield for the one year treasury bill as though it were followed by a percent symbol, that is, two and a half percent should be entered as either '2.5' or '2.5%', as opposed to '.025'. Pressing the 'Tab' key will take you through the 'Dividends' box. If applicable provide the number of payments per year, followed by the dividend per share, and the X-Dividend date. This information is readily available through your broker or the Company's web site.

 If a Company's name, stock ticker, option symbol, or option cycle change, the changes can be recorded by choosing 'Tools/Manual Entry of Initial Information' from the Initial View menu.
        As noted in the red text just beneath the Initial View's menu, If you have already purchased shares, or only wish to record the purchase of shares, proceed to the Accounting View by clicking the appropriate command bar, or by selecting the 'Go To/Accounting View' menu item from the tool bar.

        If an option strategy is to be considered now, click the radio button describing the strategy you wish to investigate - either 'Sell Covered Calls' or 'Buy Puts and/or Sell Calls'. Choosing either radio button will again cause the Initial View to expand as shown above, revealing the Expiration Date and Strike Price drop down boxes. Choose as many as three Expiration Dates and two Strike Prices by clicking the check box to the left of the dates and strikes you would like to consider. The list of Expiration Dates includes all dates available based on the option cycle and the availability of LEAPs, while the list of Strike prices includes the complete list of Strike prices from 5 to 400, including increments of 2 1/2. Click the scroll bar or arrows, to reach any Expiration Dates or Strike Prices that are not visible in the drop down window. Once your selection is complete, click the 'Quote Entry View' command bar, or select 'Go To/Quote Entry View' from the menu.
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Copyright © 2002 - 09 Mark Hutchinson mhutchinson10@tampabay.rr.com