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Non-Tech : Invest / LTD
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To: Thean who wrote (7456)2/16/1999 8:19:00 PM
From: upanddown   of 14427
 
Thean, I see what you mean now. If the underlying collapses, you wouldn't want to drop the strike since the new premium would probably just cover the loss on the sold puts and you would be in a break-even at best situation. With the timing on an oil turnaround so uncertain, I do agree you want to buy lots of time with each new put position. Sooner or later, you are going to collect. I've had good luck with puts I sold in Sept/Oct that expired or are expiring in Jan/Feb/Mar. Hit on 5 in a row so far with open ones still in black. I particularly like the low strikes like the FLC 10's. Selling puts has this wildly risky reputation ("naked" scares people) but they don't seem very risky when the stocks are down 80-85%, the strikes are low, the premiums are cushy and you are only a few bucks from ground zero anyway.<ggg> Holding Dell overnight seems a lot riskier, especially this night.<g>
Want to apologize for the SD thread about that idiot Slider. Hopefully, he is gone for good.

John
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