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Strategies & Market Trends : Gersh's Option trades
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To: Gersh Avery who wrote (124)10/22/2004 2:44:55 PM
From: kaka   of 652
 
Hi Gersh,

A short strangle sells OTM calls and OTM puts for the same month.

When I placed the trade, QQQ was @ around 36.3. I sold to open the November 37 call, and sold to open the 35 put. I'm profitable if QQQ stays between 34.20 and 37.80 since I received .80 in premiums.

A short straddle is selling a put and call but at the same strike.

Hope this is helpful.

Cheers,
kaka
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