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Strategies & Market Trends : Tech Stock Options

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To: jjs_ynot who wrote (49180)	8/4/1998 4:58:00 PM
From: donald sew	Read Replies (2) of 58727

Dave, Was locked out of SI until now. I am also in the process of creating a credit spread with OEX CALLs(bearish position). However, I am doing it a bit dangerously since I am legging into it at different times. I got the OEX 565's for 1 9/16, and hoping for a pop shortly so I sell the 560's. I only did it with 5 calls just in case things go wrong and since I have a rule not to go long in a down market. My intent is not to go long but to get a pop of 10-15 points on the OEX, so I can sell the 560's for around $4.00 or better. I picked the 665's in order to stay way out of the money in case it does run hard. Maybe I went too far out of the money by one or 2 strikeprices. Well, hope we get a pop. Seeya

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