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Strategies & Market Trends : Options
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To: Jill who wrote (6261)4/10/2000 5:50:00 PM
From: RocketMan  Read Replies (2) of 8096
 
Forget the beer, any Maalox around here? I really didn't think we would go down today after the close Friday, I thought the next selloff would at least be a couple of weeks away. This is clearly a dangerous and confusing market, and it is impossible for individual investors to figure it out. I decided to hedge all of my long positions this morning by buying puts, one put for every 100 shares, and even hedged some calls with puts, as straddle options. The only positions I have uncovered are my gmst and cree calls. My puts are strictly catastrophic insurance, as there is a 10-20 point spread between my positions and my puts, so if the bottom falls out of the market I will be OK but these slides hurt almost as much as if I was unhedged. If only I would have cashed out a few weeks ago...

Good luck to all.
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