Roger's 1997 Short Picks Message Board

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Strategies & Market Trends : Roger's 1997 Short Picks

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To: Pancho Villa who wrote (7754)	12/3/1997 5:11:00 PM
From: space cadet	Read Replies (2) of 9285

Pancho, good points all around. I am basically in complete agreement with you. Unfortunately I am using hi-risk options because I am undercapitalized. I was reasonably capitalized this summer but then I had a dreadful losing streak and lost a substantial chunk of my money. (Yes I lost them in options. Hopefully I won't make that mistake again). In short, I'm only using options till I get (back) a reasonable sum and then I plan on being a lot more conservative. Actually I don't think long term (6 month or longer) options are that risky as 6 months is a long time in the fast moving hi-tech scene. But unfortunately some of my puts are expiring this month and next. I should never placed myself in this position but I did and so I probably can kiss my ctxs puts goodbye. Incidentally, while buying options is definitely risky, do you ever sell covered calls on your positions (or covered puts on your shorts)? I think actually that this is the best of both worlds and plan on doing this a lot more, once I get through this risky period. >I must say that people at SI seem to use options too much [and also trade too much]< Truer words have not been said..

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