No, this investor makes no "big bets." -g-
Legging opportunities have appeared somewhat often in the mania. Let's see, after I've have bought my fourth third of puts on a stock and then the sucker actually comes down so that the last third are a little in the money, then what?
Buying a OTM call makes sense as a little insurance (yes, i know its one more security, commision, spread; but, dammit man! I've got a put buying habit to support). Anyway, if the stock continues down, great; if the stock goes back up you can (1) sell the call; (2) set up a spread; or (3) short a straddle (and you probably know even more fun things which could be done.)
Today was actually fun, watching INTC, IBM and TXN; may tomorrow bring much more of the same. |
