Option Spreads, Credit my Debit Message Board

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Strategies & Market Trends : Option Spreads, Credit my Debit

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To: Investor2 who wrote (1746)	11/2/2000 12:03:27 AM
From: KFE	Read Replies (2) of 2317

Investor2, Does that mean you think QQQ will go up for a month and then down? Actually it is a neutral spread and if QQQ closes at 80 on Nov 17 the spread will show its maximum gain. Always have an exit plan and here is mine for this trade. If the Dec. options go down to $2(QQQ would probably have to go to 90) I will sell them and remain naked the 80's till expiration or they reach $1, whichever comes first. If QQQ falls markedly I will probably wait until I feel comfortable with a trend and leg out both sides the same day. In any case I will not hold the long options past the short options expiration. This trade has a maximum life of 12 trading days. Interesting note: I noticed that someone else executed the same spread for 550 contracts four minutes ahead of my execution at the same prices. The only problem I have with that is my order was entered eleven minutes before their trade went off. Regards, Ken

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