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Technology Stocks : America On-Line: will it survive ...?
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To: chenys who wrote (2873)4/15/1997 11:05:00 PM
From: James F. Hopkins   of 13594
 
Hi Chen: Well you know the bookies see the buy/sell on the options
and thats not always what you get..even in real time, you get to see what they put up on the sceen, I'v traded these options enough and
( I know for a fact some of my bids and asks were never posted )
particularly if I split the spread..they get you about an 1/8
going in and an 1/8 going out so you have to have a fair move to
make any money..and you can't do this very often unless you
catch her on one end or the other of her range. I'v day traded
her more than a couple of times but it's really touch and go..
and thin on the profit side, with the risk of getting burned hard on
a reversal, and on top of that daytrading takes up too much of my time. It's exciting but I got other things I need to be doing. So
I'm not going to day trade her again. ( unless I get weak )
sometimes I think I'm like the person who quits drinking..but goes
right back <G>..this time I mean it. !
She needs to be were I said 20% above 50 DMA..or bouncing off it,
buying anything in between is not worth the time effort or risk,
at least on the short term..I still have my home run position,
in the event she does her chapter 11 or makes the secondary offer..holding Jan 98, 25 puts, won't sell them unless I roll
into some higher ones at a better rate. As she could fall like
AVNT..or worse at any time. If I see that wanaz position close
then no matter were she is I'll load up on puts. Keep an eye
on WANAZ..jan98 32.5 calls. Thats really a shorters hole card,
and if gets closed with out them rolling into another one,
she will likley dump right after.
Jim
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