Time to reconsider Cisco Systems (CSCO)?

Cisco Systems, Inc (CSCO) is down 1.79 right now to 26.57.  I’m glad I got out when I did.  If I didn’t have the covered calls last month I might have held on.  That’s just one more example of why I like writing options.  It forces me to sell an equity if not at least review why I think I should hold on.  I let CSCO go for a loss and apparently would have only had greater losses if I didn’t write covered calls had I held on.  On the other hand I haven’t seen CSCO fall below support yet.  I draw a trend line from its lows in August to its lows at the end of March up to where it sits today.  If CSCO can hold for a couple of days where it is now I think it’s a buy.  I still have to wait it out a little longer for my wash rule to work on my losses from 4/23.

Today has been an interesting day.  I was down ~$100 this morning and now I’m up $140 for the day and haven’t made a trade.  All of that can change again with whatever the Fed comes out with at 2:15 today.  As a high level review of what I have interest in right now, I have a profit on everything except for two calls (but I sold them both out-of-the-money and will likely have a nice profit on both) and two stocks (but I’ll continue to write covered calls on them and should stay close to break even as everything else makes up for it).  Two of my most trades on RVBD and ATI have proven timely with an UNrealized profit of $300 so far.