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Strategies & Market Trends : Tech Stock Options
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To: Pascal A. Mons who wrote (2019)5/28/1996 4:12:00 PM
From: Michael Hillman   of 58727
 
Pascal I sold Puts to start ....
Because it was my 3rd day trading this stock ..and the last 2 repeated the same pattern .....a forced dip in the morning ..followed by the beach ball .But I agree ..Friday's play was more indicative of a down move ..But I did the sale ... in case that wasn't the case . I wanted to sell again when prem broke 7 ..again ...and when it did it with so much strength .. I had to change focus ...and buy puts at 8 ....but twice as many . It cost me a portion of my bought put call profit ..but was worth it . I would never had bought 20 put contracts ....so I actually make more money this way . But ...it's scary while it's happening ..and without this kind of strength ....hard play to make .If I had to do it again ........nnaaawww.Besides it's always easier to pick entry and exit points ...after the fact . I would never had gotten all those 10 points ....and was happy with I got .
Now I will be more patient ...and try to catch IOMG at it's base . ..simply to sell out the money puts ..deep out of the money ..and then ride it back up ...if and when it finds a direction .
The real point of the Friday exercise .....was to see if it is possible to build a balanced option purchase ....where you can't lose ...no matter which direction the stock moves ..as long as it moves .I looked at Jun55' sold ...with twice as many JUN30's bought ...it doesn't balance .....but at some point other numbers would ..I'm sure

What do you see as a JMED option play for tomorrow ..????
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