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Strategies & Market Trends : Tech Stock Options

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To: ViperChick Secret Agent 006.9 who wrote (29838)	12/1/1997 8:34:00 PM
From: Patrick Slevin	Read Replies (1) of 58727

Ordered it Friday afternoon from Amazon, received it Saturday morning. Although not quite as thick as McMillan's original "Options as a Strategic Investment" it seems just as imposing. However, I'm told it's an excellant primer on volatility and pricing, and understanding vol seems to be key these days. So...back to the books. I trade primarily index options but until I feel I can cope with the trend towards ever higher VIX readings I'm moving more into spoo trading. Lookit the damn OEX DEC 460 calls. A few moments hesitation at around 9:40 EST this morning and I miss 'em below $11 (OEX at 461). Shortly before 4 EST with OEX over 468 and they are offered at 14.75---4 points and the OEX up over 7. It was not until the spoos kept moving higher after 4:00 that they inched up to close at $15.75 .....Of course, they were manipulated up to get them at 10.75 in the first place, but that's the point. They were gunned up then premium was stripped. Quite a slick move. Nah. The futures are manipulated a bit but not like option pricing. Perhaps once I finish this book....

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