Market Gems:Stocks w/Strong Earnings and High Tech. Rank Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Market Gems:Stocks w/Strong Earnings and High Tech. Rank

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: SMALL FRY who wrote (61875)	9/17/1999 8:10:00 PM
From: lee kramer	Read Replies (2) of 120523

Small Fry: Semi-accidental straddle. I'd written OCT calls against NITE back in Feb., terrific premiums by the way. After the stock topped out I'd sell the stock and buy the calls simultaneously to close out the positions every time the common dropped to the corresponding strike price. Wait, it gets more confusing. Few weeks ago bot OCT 27 1/2 puts as a hedge against remaining position. Last week sold remaining NITE, bot corresponding calls to close entire mishpochah. Next, I got lucky as NITE broke down. Did I know any of this was gonna happen? Nah. But I suggest strongly that you read and re-read this post any night you're in the grip of Mr. Insomnia. It'll lead you directly to Snoozeville. By the way, of all the calls I wrote not one was called away...and NITE ran from 45 to 160. Amazing huh? Jenna's right; "better to take 70% of something than 100% of nothing." (Lee)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next