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Strategies & Market Trends : Options

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To: Bruce Ravelson who wrote (1899)1/30/2000 11:10:00 AM
From: Poet  Read Replies (2) of 8096
 
Hi Bruce,

About your question on QQQ puts:

I agree with Jimbo. I think we're bottoming on Monday (I hold QQQ puts myself and will sell them Mon) and will see a relief rally after the Fed meeting on Tuesday. Because I believe the rally will be short-lived, I'll be purchasing more QQQ puts at that time. Look for the bounce and try to buy there. This way you'll maximize your gain.

Also, since you're long QCOM and JDSU, you might consider selling covered calls on them during this rally, as that will hedge you a bit against further downdrafts. Just my thoughts.
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