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Technology Stocks : JDS Uniphase (JDSU)
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To: robert b furman who wrote (21196)8/11/2001 9:30:23 PM
From: Sam2482  Read Replies (3) of 24042
 
Hi Robert: I did pretty good with ORCL over the spring/summer. Right now I have no position. I did in fact try to sell Sept 15 puts for 1.30 on Friday but didn't get filled. My thinking was...if the stock is put to me my cost basis would be 13.70 and it looks to have solid support in the 13 area. Then I would have a choice to hold it or cover it. I started playing with ORCL in May when it was around 16.50. I sold some puts bought some stock , covered the stock with options and got called out of all my positions (for a decent profit) when the July options expired. If you recall Scott McNeely gave some pretty rosey comments when they reported and the stock ran up. I wasn't interested in it @ 19 or 18 but now it has my attention again. I'm certainly no expert on options or anything for that matter but I use options for better entry levels into stocks I want and I cover stocks with calls to reduce my exposure and I do a little hedging strategies now and then on stocks with options. Personally I have been more successfull using these conservative methods of investing than I was when I just bought and held. To use a baseball analogy I look for many singles and I don't swing for the fence. I know I miss some major moves up but we have been in a pretty flat market. I sell the puts in a regular account but in the IRA's you can only do covered calls. Personally I think selling puts is more conservative than covered calls but those are the rules. I have read books on options and there are some decent threads on SI. Herm Mattas has a good one on covered calls that is worth bookmarking. I hope this helps. Good Luck
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