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Strategies & Market Trends : Options
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To: edamo who wrote (242)12/28/1999 11:17:00 AM
From: Poet  Read Replies (2) of 8096
 
Hi ed,

Wise words.

Do you ever daytrade options? I ask this because it seems that during times when there is a lot of volatility in an issue with which you are intimately familiar, this can be very lucrative.

As an example, I've just set up a daytrade on QCOM. I watch it very very closely and see that it's settled about three points below yesterday's close. I bought 5 Jan 520's (just OTM) at $51 and set a limit sell at $56, where the options would be if QCOM were just over $520. Of course this is risky, but considering QCOM's imminent split, its general intraday trading pattern, and the fact that it ran yesterday afternoon, I'm willing to try it.

What do you think?
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