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Strategies & Market Trends : MDA - Market Direction Analysis

SPY 674.96

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Nov 25 4:00 PM EST

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To: Benkea who wrote (17740)	6/17/1999 11:12:00 PM
From: James F. Hopkins	Read Replies (1) of 99985

Benkea; I don't like paying the premium, even deep in the money puts for July have a $3 premo..Or $300 per contract. So you give away the first $3 of downside, and option commissions also cost me twice what buying/selling does. I would consider them if she were making an all time high and doing what looked like a blow off top. Right now that's not the case , as she is still down from her highs. The time premium adds up, but all in all QQQ options don't have much appeal, note the low open interest. Anyway I prefer to write options over buying them if she will get on down I may write some puts, but doubt it. Buying long term calls look better than puts if she will dip some. Last they are not very liquid , & the spread is kind of steep . Jim

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