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Politics : Idea Of The Day
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To: Jeff Jordan who wrote (28588)9/3/1999 2:17:00 PM
From: IQBAL LATIF  Read Replies (3) of 50167
 
<<Can you please help me understand why SPX Jan. 1475 puts are up 18.46% + 20.5 net bid 125.75 ask 127 7/8??? or is this a bad quote?
LOW/HIGH 131.5???????????>>

Never ever sell put or a call if you are learning.. please note that.. now next

These are heavily in the money puts. SPU is at what may be 1355-56 so effectvely selling these in the money puts means you are expecting the market to move higher from here to 1475. Now the maximum you can make is 125 $ if we are on 1475 in Jan and you can loose 1350 theoritically if market is at 0 gg, in reality if we break 1300 and test 1270.. these puts will be worth 205 $ you will be losing heavily before that comes margin calls will wipe you out..

The puts are up they should be down on a up day, please recheck the quote.. I will rather buy Oct 1330's if 1362 is not taken out by Tuesday max... I think until 600 on DOT is out the market upside is limited, SOX alone cannot do it that inrrational exuberance in internets on a smaller scale is not just there to be exploited so be careful with this rally, not a rally to sell puts or sell calls, it is rally of buying calls and buying puts at the right time, on the up buying puts on the down buy calls at the dips. Never ever get to carried away at these levels, just take it easy and nice ....
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