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Strategies & Market Trends : Options
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To: Tim O. who wrote (5975)4/4/2000 4:55:00 PM
From: Poet  Read Replies (4) of 8096
 
Yep, that's a short put repair strategy.

I happened to be on the phone with my broker during the market's nadir today and sold 20 BRCM April 175 puts at 26. I immediately put in a limit sell order at $23, which filled. It was a good feeling, even during all this carnage, to make some money today.

I think the volatility recently has fattened premiums to the point where selling puts on issues like BRCM will be very rewarding. I'll post my put sales tomorrow morning.

One more thing: On downdraft days like today, when I'm too scared to do much of anything, I buy back my covered calls and look to reposition. I did this with QCOM and JDSU today, buying back the JDSU April 140's and then selling the 125's. On QCOM I bought back the April 170's and 180's and sold the 150's. Does anyone else reposition covered calls?
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