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Strategies & Market Trends : Options
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To: Poet who wrote (3196)2/18/2000 7:07:00 PM
From: steve mamus  Read Replies (1) of 8096
 
Score card

Sold GLW 2,000 shares at 192 and change
RE: poor market conditions - I will buy back at lower price. I love the stock.

Sold BRCM 1,000 share at 191 0r 2
RE: poor market conditions, got top dollar

These were both in my trading acct (day trading/swing trading acct)
RE: poor market conditions, got top dollar

Sold 60 contracts on IMNX - 40 contracts strike 150 and 20 contracts strike 140 both 1/02 - raised a bunch of cash

started initial positions in Biotech today - I have been out of this for 10 years names

HGSI
IMNX
BBX
MLNM

I think we are going down hard on the DOW another 10-20%
I have raised a huge amount of cash starting 1/3/00. I am now (and have been) about 50% cash since 1/3/00. I am in 33 names right now (which is unbelievable, usually I have no more then 10 names) - trading acct essentially in cash and a large # of contracts (400 or so all naked puts that I have sold). I also sold 20 more contracts on LU today 1/02 I believe strike price either 40 or 45 with a 7 dollar and change premium - bottom line LU at less then 40 dollars per share - they will have their act fixed up by then.

I like the idea of selling puts on strong stocks out 2 years at prices 30-50% below current price. Low stress and I don't have to do much for a while except for closing positions when profitable enough and take proceeds from the puts that I have sold into stock that I like.

DoK
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