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Technology Stocks : Advanced Micro Devices - Moderated (AMD)
AMD 198.12-5.2%Dec 17 3:59 PM EST
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To: andreas_wonisch who wrote (73049)3/3/2002 10:34:58 AM
From: bacchus_iiRead Replies (3) of 275872
 
RE:"BTW, Elmer's strategy has many flaws IMO..."

I agree with you on those remarks. After having used this strategy for almost 2 years, I would add those observations:

1) This technique reduce lever for playing the market.

2) The most frustrating part is when you have such position (short put or CC) you lost freedom of trading the shares. It's the reason I couldn't jump in when AMD was below $8, a lifetime missing opportunity.

3) The best advantage is you don't need money in your account to make initial position(selling PUT). You need margin from other position though (e.g. bond position).

Gottfried
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