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Strategies & Market Trends : The Options Box

QQQ 629.43

-0.6%

Jan 29 4:00 PM EST

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To: jjs_ynot who wrote (1085)	6/1/2000 9:42:00 AM
From: Mark Z	Read Replies (1) of 10876

Nothing you want to know about <g>. Yesterday I brilliantly bought some OEX puts thinking we'd retrace. Fortunately, I got out 'even' at the end of the day. Other than that, I've got some put spreads set up on certain stocks where I buy back the short side on rallies and sell 'em again on tanks. Doing the same thing w/CCs on my retirement acct holdings. SCH/CSCO/BUD have been in nice ranges and the 'easiest' to do this with. YHOO was nice the past two months in the 110-135 range but its in too small a range the past week to do anything with it. I'm looking at doing your thing w/OTM credit spreads (selling premium into options expiry) on the OEX but I want to see what the economic reports tomorrow bring before initiating anything. Part of my problem is I just don't have a confident read on the market. We may have seen an interim bottom but I'm not 100% convinced we don't retest once more between now and options expiry. OTOH, we're approaching earnings season when things should pop up a bit (watch YHOO). So basically, very short term trades watching resistance/support on the indices and playing the direction.

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