Options for Newbies -(Help Me Obi-Wan-Kenobe) Message Board

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Strategies & Market Trends : Options for Newbies -(Help Me Obi-Wan-Kenobe)

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To: Henry who started this subject	7/17/2004 3:53:52 PM
From: jficquette	Read Replies (1) of 2241

Hi, I would like some advice if possible. About 3 months ago I started playing with options. I quickly found out that I have a knack for selling naked options. My scam is to find super extended stocks and then sell calls or puts close in and buy them back when they realize they bought or sold the top/bottom. I started selling azo august 75 puts and I have 18 with the avg price of 1.02. I guess I am scared that I will have the stock put to be and I wonder what I should do to minimize my risk. What would some of you people do if you had this azo deal. Truth is I started selling to soon, when the stock was in the low 80's. Azo had just had a big gap down and heavy selling. So the odd number of puts comes from adding along the way. I added 2 yesterday at 2.05. Thanks for any insight. John

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