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Bonnie, My name is more Irish than I am. Our Burkes hail from Galway,
but I have just as much Swedish, English, and Cherokee running
through my blood. So, I am a typical American mutt, though I look
Irish, so that strain may have the toughest genes. -G- I buy out of
the money options and usually out in time for the leverage involved and
also to lower the risk of a wipeout. If I am right on the stocks I
play with options, the out of the moneys make me a ton. If I am wrong,
I lose 100 percent. So, I agree with your philosophy. I often buy
puts and calls in less than optimal circumstances, but I try to follow
my druthers. I'd druther buy a put on an all-time high. That isn't
going to happen with MU. So, I'd next druther buy a put on an up day,
an I almost never break that rule. But right now I prefer the Dells
and Compaqs and Gateways near all-time highs to MU, which is doomed
but fairly well battered. I prefer to start a put position when the
bulls are still in a lather on the stock. Good luck, MB |
