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Politics : Idea Of The Day
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To: Mark who wrote (14875)11/21/1997 2:24:00 AM
From: IQBAL LATIF  Read Replies (1) of 50167
 
Mark- In my opinion we will see SOX testing 320 today or next week- I will do what you are planning but at a point where S&P tests 980 or around - go for the top on the market- fine tune your call selling by racking in the max premiums my trades would be as gfollows Mark-
1- 115 Dec- 1.5 times my calls of Jan 110/ so if you 10 calls I will sell 15 - suppose the darn thing goes up- just don't worry your heavier calls 110 will take care of naked 5 -115. Get some more premium in. If the market is testing 320 today do it before close well a good hour before, manage it closely and keep on trading this positions if you feel comfortable go 2 to 1 on weaknesses cover on strenghts go back in - after 110 , however let the market run sell the calls at the most appropriate time- top , no one can say where is that but considering risk reward it is somewhere around 325- 330 region on SOX. Of course the best would be to leave them and let the market do for you the job but against reduction of risk your ides is not bad however refine my crude thoughts further and lets talk loud to find if others have something to add. I will be seling a lot of out of money's if SOX crosses 325-330 area. INTC I doubt will be 90 by Dec, same strategy but lets look at market action today. Beware this is an extremely oversold market in techs and you need to be careful selling calls however your strategy seems to be good.
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