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Strategies & Market Trends : Options
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To: Jill who wrote (6958)4/26/2000 11:19:00 AM
From: Cosmo Daisey  Read Replies (3) of 8096
 
Jilly,
Cosmo is repositioning to a low maintenance portfolio consisting of REIT's returning an average dividend rate of 14%. My REIT portfolio is also up 6% since positioning starting six weeks ago. Also writing covered calls on QQQ returning 8% a month. I position the Q's on a slight pullback and sell ATM on a bounce. Today for example you could have bought QQQ @ 90 and sold the May 92 @ 5 3/4 and if called the return is 8.6%, If not called it's 6.3% An interesting point to keep in mind when writing CC on the Q's is the ATM call premium stays about the same for the entire month until just before exp. One month is a long time in the market so the Q's I am long in the 80's I will not write on until exp. week to take advantage of any increase in value. However if anyone is just looking for a really low maintenance position just buy the pullback and write the recovery and check on it in a month. The other side of this is you can trade the calls intra month on market volatility. Still another idea is if the Q's get called away just leave the funds in the money market until exp week. This is the one week a month trading sleep at night low risk good return plan, think about it, one week a month with a 8% return plus money market returns.
Also I am taking advantage of volatile stocks for day trades. AVNX is a good choice right now because George Gilder added it to his list, I have traded it twice today.
As I look back at my post it doesn't seem like I am making much progress towards my low maintenance posture. Oh well.
cdaisey@heliopause.com
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