Play It On Paper- Clappy's Newbie Option Thread Message Board

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Pastimes : Play It On Paper- Clappy's Newbie Option Thread

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To: Clappy who started this subject	7/21/2000 3:12:58 PM
From: Clappy	Read Replies (6) of 176

In anticipation of the near end of earnings season, I believe we may be heading for a test of the May bottom that was formed by the Naz. I expect volume to drop off soon. Therefore I will make my first trade by buying puts. I'm looking for a company who has had an incredible run over the past two months. I would also prefer to find a company who might be considered a little weaker than some of the others in it's micro-sector. Fiber Optics have had a nice run. There sure are a lot of candidates there. The biotechs have enjoyed a nice run as well. Some of the largest runs I've noticed have been by SDLI, BRCD, PDLI, JNPR, BRCM, and several others. I will probably wait before expecting to see SDLI to drop. It's proposed merger with JDSU makes it a a candidate for a short rise until the S&P 500 funds are finished buying JDSU. SDLI will raise in accordance to JDSU's buying pressure. BRCD still has to report earnings. Could possibly announce a split... I'm not sure. JNPR could be my best candidate right now. There good news is out with their earnings. They have enjoyed a beautiful runnup since the market crashed. They are up over 100% in less than 2 months. I could picture them dropping a few percent if the Nasdaq dips. I'm going to buy the Aug 160's Puts for $11. Ticker JUDTL. I'll buy 2 contracts for a total of $2200. In addition I will buy the Aug 120's Puts for 1 3/8. Ticker JUYTD. I'll buy 20 contracts for a total of $2,750. This will bring my account from $10,000 in cash to $5050. I'm not deducting any commissions. What the heck, it's My fantasy... In my dream world, all trades are commission free. Furthermore, it tax free, as well! Ha! Take that tax man! :^) -ClappyTheLabRat

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