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 wrote (54)	7/25/2000 6:18:04 PM
From: Clappy	Read Replies (1) of 176

Trade This morning I had posted that I was selling the AUG 120's Puts that I had. After 1/2 hour into the market trading, I saw the Bid for JUYTD to be 2 1/16. I'm not sure if the MM would have given it to me at that price. As far I can tell that was the real time current Bid. So I am applying a credit of $4,125 to my fictitious account. $5,050(cash) + $4,125 = $9,175 Total cash in my account. I'm still holding 2 Puts Aug 160's which finished the day at 10 7/8. Value= $2,175 I bought this one at a higher price on Friday. Had I sold it at today's close the account value would be $11,350. Right now I can not make a confident guess as to which way the market is headed tomorrow. Therefore I plan to hold these contracts and keep my cash ready for when I can get a clearer picture. I still hold a short term bearish outlook. -ClapOff

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