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Pastimes : Don't Ask Rambi

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To: Ilaine who wrote (36661)	8/30/1999 3:35:00 PM
From: Rambi	Read Replies (2) of 71178

Penni's strange grasp of the options market I thought the open interest were the contracts that were still"open" in the sense that they haven't been exercised. So if you bought a contract, it would add to the open interest, not decrease it. You realize I course, that my understanding of options is minimal. As far as I can tell, you can't really know what you're going to get -- the options guys seem to arbitrarily decide and do what they want. They are nasty. It doesn't go dollar for dollar until you're in the money. Sometimes they don't move forever and seems to depend on the trend and the mo. I stay pretty much with stocks I have watched for a long time and have an idea of their trading range. I always just decide what I want to get at some point and take it when I can. I have never exercised an option, but I've had some nasty expirations when I was just learning. Lately I've stayed with leaps and trying to get a closer strike. You just sell them like a stock. It goes in and out of my account and I never think about it. Are the real traders out there cringing and moaning now? Hey--- it's been working for me.

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