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Strategies & Market Trends : Option Strategies

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To: sm1th who wrote (2084)	3/2/2020 7:55:06 PM
From: robert b furman	of 2591

Hi sm1th, My clx studies said a modest turn might happen on Friday, but then the boys in the know, like to give us three day weekends to worry about. It's a matter of luck if I hit it right. I darn sure don't pretend to hit it near as accurately as the Cheif. I had decided to go a bit early, pinch my nose and gut it out over the weekend. I figured I would do some more if Monday was up, but I lost my nerve - I don't mind selling a put , if I have cash to buy it - but getting over levered nis a step I just don't take anymore. You lose alternatives and fear creeps in. I think you did just fine. By the time this market gets back to new highs - you're gonna look like a genius! Chevron 87.50's and XOM 50's. 5.16/87.50 = 5.9 (not counting your premium) 3.48/50 = 6.96 not counting your premium). Nothing gonna hurt you with those yields , as the ten year chases 1.25%. My bet is you're gonna get to keep the premium. There is a very interesting article that talks about how China used more oil the year before and after they had trouble with SARS. The consumption of a barrel of oil per GDP went up during that time period, because the efficient use of oil had been restricted and more oil was forced to be more inefficiently used. He expected that Brent would be $75.00 in the not too distant future. It is over at Seeking Alpha. Should make you feel pretty good! Nice trading in a time when more than most were frozen. Bob

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