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Technology Stocks : LSI Corporation
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To: Donald L. Neely who wrote (7363)10/22/1997 10:22:00 PM
From: Golfer9  Read Replies (1) of 25814
 
It is really simple the way I use it. Let tell you about a trade I did on IBM. Monday I sold IBM Jan 90 contracts at 4 when the stock was at 96. That is I took in $4 and was willing to bet that IBM would be higher in Jan than 90. If I was wrong I was willing to create stock at the effective price of 86 (90-4).

What happen was that the stock went up alot yesterday and I covered my position at $1.5 made $2.5 because I did not expect to see IBM move so fast and I sold far before I expected to.

I only sell puts on stock I think have upside say in a few months. I never sell close in puts that is for the real pros to do.

So far this year I have been lucky and made money on every put sale and that is manly because we have had an up market.

Hope this was helpful.
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