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Strategies & Market Trends : Options
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To: Jill who wrote (1889)1/29/2000 9:39:00 PM
From: cthruu  Read Replies (1) of 8096
 
Hi:

On QCOM I sold 120 calls. I almost covered them yesterday, but held on because of the weekend. Wanted to get in those three days of depreciation in there. On a bounce I will sell DIM calls: something like 80's so the Delta is high and I will catch the down move point by point in addition to some premium.

JDSU: I am short 200 calls. I will cover them on Monday and sell 160 calls - that is where 50 day MA for JDSU is. Buy them back if it bounces from 180 gap support and catch the 20 point down move.

Just like IM calls go up tick by tick with the stock, they also drop tick by tick. I own JDSU and QCOM which I have no intention of selling. Also, since the volatility is high, option premiums are high and selling is a better way to trade options than buying. I will also supplement this trade with some puts to increase the delta of my option trades.

If you want to sell these, you have to be quite vigilant about monitoring them.

Regards:

GP
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