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Technology Stocks : America On-Line (AOL)
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To: Yaacov who wrote (35491)12/17/1999 2:26:00 AM
From: Dr. David Gleitman  Read Replies (2) of 41369
 
Good morning Yaacov:

The most the trade in stocks but have begun using options as a method to generate additional revenue. In most cases, my intention is to sell calls well out of the money and capitalize on obtaining that premium for myself to use to purchase other securities. In some cases, as with Dell computer, I purchased 1000 shares of Dell at 44 3/4 late afternoon and proceed immediately to sell the December 45 calls at 7/16. Even if I were to be taken out tomorrow, I still made some extra pocket money on a short-term basis.

I find options are a bit like craps. In order to fully understand it, you have to play it and experience it firsthand. Watching the changes evaluation this past week with the December strike prices and comparing them to the January strike prices made me appreciate that much more the time decay factor. I've also learnt through experience that options expiration seems to play a very important role in controlling the closing price of AOL by options expiration. Don't ask me how this is done because I'm not sure, however IM of the conspiracy belief that there are 12 people residing in Hoboken NJ right across the river from Manhattan that actually control the market<g>. the next thing that I have to learn and fully grasp are straddles and other options strategies. While I have purchased various options books, I have found myself to become brain dead and don't really have the time to fully absorb the material given my schedule. If anyone knows if they have this on tape or CD, please let me know as this would be a wonderful thing to listen to while running or driving.

Now let's see what tomorrow will bring.

Best wishes,

David
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