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Strategies & Market Trends : Options
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To: Poet who wrote (337)12/29/1999 10:23:00 AM
From: RocketMan  Read Replies (1) of 8096
 
Poet (and others), this morning I bought two Apr 00 290 Q puts (AAFPR) at 4 1/8 each. I did that as a hedge against Q selling off early next year. I realize if Q keeps going up I lose the premium, but make out like a king on the upside with my long position, whereas if Q goes down the two puts won't make up for it, but it will give me a bit of a cushion. I still don't know enough about the deltas, etc, to do anywhere near an optimal hedge strategy, but this seemed to me a cheap way to provide some downward protection. I also noted a large number of positions (245) at this particular price, so I figured that's got to be a good place to be. Any comments on this strategy?
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