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Strategies & Market Trends : Tech Stock Options

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To: James H. Irwin who wrote (30987)12/12/1997 9:16:00 AM
From: Tom Trader  Read Replies (4) of 58727
 
Good morning Jim--looking to short Dec OEX 455 or 460 calls just after the open

Taking advantage of the gap open that is expected on the futures -- I don't expect the gap to hold for long and if the March futures are at or above the open level, about an hour after the open, I will close out the short position.

Not saying that we are going to be down for the day -- just that this gap open will most likely not hold and I am hoping to scalp a couple of points on what is likely to be a day trade--the type of trade that I said that I don't like to do:)

Have a good day
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