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Strategies & Market Trends : Options 201: Beyond Obi-Wan-Kenobe
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To: jt101 who wrote (712)1/11/2003 1:48:04 AM
From: Dan Duchardt  Read Replies (2) of 1064
 
Hi jt,

Sounds like your luck with the futures is similar to mine. Seems like every trade I enter is directly in front of a sharp move in the wrong direction, and it becomes a game of how much pain one can stand before absorbing another loss.

Most of what I am doing actively is with options. I looked at the futures options and really don't see any advantage to them over the index options. Still, the spreads are rather wide. My broker (IB) now counts option trades as daytrades, so with a small account you can't be flipping them very often. Maybe that's a good thing; I'm not sure. At least with options you have all the different strikes to play with, so you can offset without creating daytrades.

I will be focusing more on options for a while. Except for a few individual stock options I'm trading QQQ and OEX. Ended the day today with some long QQQ LEAPS calls and a few near term short calls plus a couple of near term puts, but with an net bullish bias. OEX is all JAN puts with a bearish bias. I'm thinking about starting to play OEX with a longer time horizon on the short side while using near term options to hedge. That sounds exactly backwards when you think of calendar spreads, but I think if you leg in you can create good upside potential with low risk. I need to work on this some more, but it is definitely not a set it and forget approach.
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