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Strategies & Market Trends : Gersh's Option trades
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To: KB who wrote (49)9/13/2004 11:08:56 AM
From: kaka  Read Replies (1) of 652
 
KB,

These are my current option positions with an October expiration. All contracts are short positions:

5 CSCO puts @ 20 strike
15 CSCO puts @ 17.5 strike

15 DELL calls @ 35
15 DELL puts @ 35

Today sold another 5 short DELL calls @ 35 for $1.65 (for a total of 20 contracts) I'll wait for a back-off in DELL to sell the corresponding put and try to eek out a few more cents. If not, I'll double up on the amount of puts to hedge.

25 DELL calls @ 37.5
10 DELL puts @ 32.5 - these lost value so quickly that I couldn't leg into any more contracts. I'll probably close position soon and sell more November's.

10 INTC calls @ 25
10 INTC calls @ 22.5
15 INTC puts @ 22.5
5 INTC puts @ 20

I think that's it!! I'll probably add more short INTC calls for Oct 22.5 today, and another 5 INTC 20 puts.

Many say that short straddles/strangles provide a limited amount of profit for the relative risk/% reward/margin requirements, etc. but its been a successful past few years of trading this way for me

November, and especially January '05 contracts are more interesting. They've been out a long long time and I've sold many contracts at various strikes. Their expiration should be more profitable than Sept and October. August was a 14K month. Fingers crossed that November can be the same.

I'll keep you up to date, or I can e-mail you if you wish.

Cheers,
kaka
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