Option Spreads, Credit my Debit Message Board

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Strategies & Market Trends : Option Spreads, Credit my Debit

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To: jjs_ynot who wrote (1759)	11/9/2000 10:05:50 PM
From: Seldom_Blue	Read Replies (1) of 2317

Questions to the thread: I bought some HAND puts a couple of days ago, Feb. 70 at 12 3/4. I really did not like the market then. The price of the common was at 82. Today the stock is at 77, but the option is barely at 14 1/8. I was going to wait until the stock drops to sell the Feb. 65 or 60 to get my premium back, then wait for the profit. Now I am concerned my strategy maybe flawed. The delta seems too low. It will take a dramatic move down to make it worthwhile. Should I wait for my chance to sell the Feb. 65 or just get out of the position? I am ahead by about 1 point. I still have not figured out a good (safe) way to play the downside of the market, as I am neutral to bearish these days. Seldom Blue

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