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Strategies & Market Trends : The Options Box

QQQ 623.23

+2.2%

Nov 10 4:00 PM EST

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To: robwin who wrote (9992)	3/12/2001 10:51:49 AM
From: Poet	Read Replies (2) of 10876

Hi there Rob, I know exactly what you mean about letting go of puts too early. I've scalped profits fromQQQ, JNPR, GE and IBM lately. I guess the way to look at it is that the fear of having any position in this market for more than a few days, because of the rising volatility, is rather dangerous. We're getting close to support and the Fed meets on March 20th (ie. the possibility of a rate cut looms), so I think it's wise to take profits on shorts here, or soon. I sold the last of my IBM July puts this morning and have initiated a small position in JNPR Mar 50 naked puts. This is a gamble (as any long position is now) but the fact that the volatility is very high (meaning the premiums are inflated) and that time decay accelerates over the last week before expiry, I'm willing to try and scalp a little money here. This not a recommendation, just a public admission of a gamble.

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