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Technology Stocks : America On-Line: will it survive ...?
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To: James F. Hopkins who wrote (3671)6/27/1997 10:23:00 PM
From: CLAUDE JOHNSON   of 13594
 
Jim,
Been trading quite some time. I didn't get serious about options until 1995 when I started looking at various techniques to getting stock through selling puts, as well as making extra $$$ through covered calls. In the last year I have studied some wonderful techniques from Warren McMillan in his 900 page book "Options as a Strategic Investment". Of the hundreds of strategies he proposes, I have adopted 11 that range from conservative to aggressive, but all of which work to take the guess-work out of the market place and map profit potential to the probability of the most likely bell curve that One generates through research of the specific stock and option strategies. A little bit of work to find the right strategy for the right situation, but you would really have to be WAY WAY OFF to lose any money with this type of outlook.

I am primarily a Seller of options, and only a buyer when I can get in the money options for a very low debit through selling Out of the money calls, or I can get Out of the money options for free or a small credit through strategies like a 'Verticle Butterfly Spread' which serves to net one a free out of the money call and put.

What you possess in understanding the technical aspects of the stock, as well as a feel for the near-term track record, I lack somewhat. I certainly don't enjoy that aspect of research ... the pure numbers. I enjoy the strategy once I am sold on the trend and the 'relative' timing thereof.
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