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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: soozathelooza who wrote (2442)10/23/1997 2:46:00 AM
From: Michael Berkel  Read Replies (2) of 95453
 
Paul, I was considering doing the same thing, however the premiums one has to pay for both the put & the call together might be so horrifying
expensive (for example 20%) that even with wild swings of 20% one can only break even or make just a small profit. Or are you suggesting writing & buying?
Please elaborate a little how you envisage a profitable strategy?

I was stopped out of FGII when it fell back from the high thirties to
the high twenties in two days time. When I wanted to climb back, the stock had already taken off in the stratosphere and with the stock at 40 I am not a buyer anymore.

Michael B.
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