Gersh's Option trades Message Board

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Strategies & Market Trends : Gersh's Option trades

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To: KB who wrote (51)	9/13/2004 12:16:54 PM
From: kaka	of 652

KB, Today I sold to open the following: 5 DLQ-JG DELL Oct 35 put. I'll sell the call if DELL kicks back a bit, a mentioned in previous post 5 NQ-VD INTC Oct 20 put 10 NQ-JX INTC Oct 22.5 call Now have a 20/25 short strangle, and a short straddle @ 25 slightly weighted on the call side, for INTC Today's premiums added to my account is a hair over $1500. For fun I added 5 short contracts to my current HD-MZ position...Home Depot Jan 05 32.5 put. I have a bunch of short HD puts @ 27.5 and 30 for the November expiration which were opened some time ago, and even more short puts for HD strikes @ 25, 27.5 30 and 32.5 for the Jan expiration. Never owned HD, but made a substantial amount of $$ selling puts. Began doing this way back when HD broke under 20 in late 2002/early 2003. Never had to close out a HD put with a loss (so far) although I've been conservative with choosing whcih strikes to sell. Should I need to clear up margin, I'll repurchase some HD contracts for 0.05..otherwise I just let them expire. Getting slightly nervous about further out HD plays due to interest rates, but so far its been one of my most obedient, consistent plays. Cheers, kaka

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