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Strategies & Market Trends : How To Write Covered Calls - An Ongoing Real Case Study!
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To: jaytee who wrote (13403)11/6/2000 11:02:12 AM
From: jebj  Read Replies (2) of 14162
 
Tks for the nice comments, Jaytee - but not sure they are warrented.

I am just now coming back to options - having been out day/MOMO trading for over a year now.

Am using my lessons learned in that area and taking them to options - went into the RMBS DEC70'S on Friday at just under 4 and sold this morning at 10. Now that is a nice ROI. Also still sitting on the CSCO Jan0370's with a nice profit in them.

Had originally intended to follow Herm's sideshows on them but now think I will shortterm them as well on the next nice bounce.

What I am doing is not for everyone and certainly not those that can't follow the market intraday but coming from daytrading back to options opens up the potential for some very nice ROI's - If I had daytraded/swing traded the RMBS options it would have taken about 65K of capital and the potential of serious loses if I didn't stop out on a downturn.

With the option, I had less than 4K total at risk - if I had, in fact, used the total 65K to purchase options as in a daytrade, I could have purchased some 16+ contracts.

Would never have done that but what a capital gain increase in one days trading! (I think that is called greed!)

Again, this is NOT something most here should be interested in doing - safety of capital is one of Herm's strongest points - but one can take knowledge from one area of trading to another.

jb
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