Selling Puts: Have Cash Will Travel Message Board

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Strategies & Market Trends : Selling Puts: Have Cash Will Travel

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To: Tom K. who wrote (1146)	4/8/2000 3:27:00 PM
From: David Lind	Read Replies (1) of 1235

Tom, I fear that you misinterpreted the intention of my post. It was not to pour cold water on NPs or on anyone who profits from the strategy. I myself have profited a great deal - thanks in large part to your very expert advice - and I will continue to do so. But because of this very success I became overconfident (it happens) and over exposed myself at just the wrong time. I had a good margin pad in place, but after four days of falling prices followed by a crash, it simply evaporated into a margin call. I want to share this with others who don't have your expertise so that they don't get overextended in what I still feel is a good strategy. These threads are a great tool for learning and sharing information, but I do feel that sometimes many of us - me included - tend to gloss over the risk involved if things are not handled carefully. I am always aware that new people are reading these threads - many with far less experience than you and I - and I want them to appreciate that while there is reward, the risk deserves a great deal of respect. Thanks, David

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