Clown-Free Zone... sorry, no clowns allowed Message Board

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Pastimes : Clown-Free Zone... sorry, no clowns allowed

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To: Lucretius who started this subject	5/17/2002 10:54:19 PM
From: KeepItSimple	Read Replies (4) of 436258

Does everyone else here mainly play the market with straddles? The only thing I've done for the last 6 months is buy 2-3 point out of the money calls on a dozen tech trash companies, and 2-3 point out of the money puts. Equal amounts.. Sometimes the puts go to zero, sometimes the calls go to zero. The VIX is totally fucked, since these stocks ARE moving like crazy. With 100:1 leverage, no matter where these things go, you make out like a bandit. Usually around 200% per trade, sometimes a SHITLOAD more. I've yet to have a single straddle flatline and not move at all. Not once. The only tough part is the discipline to TAKE THE PROFITS whenever you get really lucky and make 100% or more.. Then just put an limit sale order on the losing side of the trade at a price equal to what you paid for the contract. Hell, 25% of the time I get my original money back on the "wrong" half of the straddle too. I feel like I should ask someone if this is even legal- I literally have not had a single losing straddle yet. The only times I have lost a dime are when I bet solely in one direction and got creamed by bad news or positive analyst pumping on CNBC..

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