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Strategies & Market Trends : Option Trades

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To: zx who wrote (489)	1/17/1998 11:35:00 AM
From: Jeffrey Beckman	Read Replies (2) of 2341

ALL: I'm new to options, but considering put insurance on my driller/oil service stocks. My main holdings now are FLC and UTI. Assuming that I'd buy puts for one or both or these, do you think OTM contracts such as the 25 for FLC and 15 for UTI would be the way to take advantage of volatility? Would you go relatively short-term (March/April), or longer? Also, I see the Ameritrade options ordering gizmo requires one to check either "covered" or "uncovered". If I were to sell the stock at some point and keep the put, I guess it would then be "uncovered". Would this then use a greater % of my margin account's buying power, or what? Actually, FLC is somewhat less volatile. Do you think an uncovered put on some more volatile stock in the sector would be the way to go? Thanks for your comments and advice. Jeff

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