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Pastimes : Ask Mohan about the Market

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To: Barbara Barry who wrote (7922)	11/14/1997 3:50:00 PM
From: Jack Clarke	Read Replies (1) of 18056

Barbara: Indeed a tough decision re: your Nov long OEX puts. You will lose time premium over the weekend even without any market changes. But if the Asian markets tank again and affect the US market, wouldn't you love to be long those puts Mon AM? It'll be too late to buy 'em then. Usually it's best to roll to the next month before expiration week. Look up "gamma" in an options text. I'm going through the same mental anguish with only twenty minutes or so to make a decision, but I bought some Dec puts earlier. If you do decide to sell them, I'd wait a few more minutes hoping those guys with the big profits in the spoo's sell their longs to take profits. Jack

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