Hi Poet,
I don't want to see your thread self-destruct.. I've learned a lot about technical aspects of options.. I have a more free-wheeling approach based upon short term market timing and then playing the front month and ITM or nearly so..
I pick out stocks that mirror the indices, for direction, and play the direction of my market calls, with puts or calls.. And I have been quite successful lately doing it..
Two stocks I have played lately, are NTAP and QLGC, common and calls.. I also cruise around these boards looking for the ones in play, like those two plus CREE, SEBL etc.. But market timing is the most important part of the equation.
I also write CCs on stock in my long term portfolio, again in the front month, based upon.. where we are at in the market cycle.. Sell em near the highs and buy em back at the cycle low. If I can nail the cycles.. If one gets away, so be it.. NTAP in my long acct. might do that..but I don't care.. I bot it in the 40's sold 65s, way ahead on the option, but am trying to steal em back..
I watch the 5' charts, have limit orders but only at the time when I decide to go..I don't want GTC or even day orders in , say for a call, to buy, because I never have a clue how far something will fall. But when I sell I put a limit order in ahead of the move.. to pick off the momentum.Then I will adjust it back,if I am too far out..
I also do a little OEX,, but much tougher, IMO from a risk/reward basis.
I never do naked put selling, because my close friend and broker had a client wiped out in the crash of 87..
Well good luck here.. and have a nice weekend..
m |
