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Non-Tech : Trading IOMEGA based on technical analysis
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To: KM who wrote (1183)9/9/1997 9:40:00 PM
From: Teddy   of 1511
 
Yeah, i know what LEAPS are, but have no experience with them:
LEAPS is anacronym for Long-Term Equity AnticiPation Securities. LEAPS are long-term equity options traded on U.S. exchanges and over the counter. Instead of expiring in two near-term and two farther out months as most equity options do, LEAPS expire in two or three years, giving the buyer a longer time for his strategy to come to fruition. LEAPS are traded on many individual stocks listed on the New York Stock Exchange, the American Stock Exchange, and NASDAQ. (i copied and pasted that;-)

Dad has forbidden me to open an options account. I'm still looking into comoditities (i just got a thing in the mail from Edward Thomas Trading Company concerning Managed Futures: seems like they want me to put money into an account and they them have complete control to trade with it, if they make money they take about 30% of the profit. If they loose money, well they don't loose, i do. Sounds like a good deal for them and a very very bad deal for me.)

So, can a purchase LEAPS in my regular account (like warrants) or do i need an option account? What is the symbol of Boeing LEAPS?

P.S. Dad didn't say ALD was a bad stock, in fact, as i stated, he never sold a share and thinks it is a good long term stock. He just thinks that i should be able to do better. (He was pretty impressed to learn last week that Serros and Vinik paid more for IOM than i did.)
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