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Check it out. A "contract" there is only on 100 shares and there are thousands of shares and indices liquid enough to trade. A steady rising market is the right environment to use that strategy. IMHO of course. :D

I reckon $1.20 is more likely than 80c but that's IMHO. But the big international blue chips look an attractive option for writing covered calls, if your broker can do those trades for you. Think Microsoft, Coke, J&J, Cat not Starbucks and Krispy Kreme. Currency revaluation CAN take the gloss...

IV. You aren't a trader. For you the term "trader" is a swear word. You have no idea how they operate so clearly I'm wasting my time. I stick by my original statement.

Traders don't take short term positions on long range beliefs.

Not for the first time we don't see things in the same light. But we're used to that. :D The A$ may well fall against a basket of currencies but the US$ will fall even further according to my crystal ball. Britannia only took 50 years to sink. I reckon the Yanks with Bernanke at the helm can...

Are you saying it is OK to have "no idea" about the markets, as long as you have a long time line? A day trader doesn't need to understand long trends, merely short term charts and price movements.

Anyone who could not understand parity was a given and who feels "We'll soon back to 80c where we belong." should be day-trading, not making long term investments. :eek: