Trading SPY and DIA for Fun & Profit Message Board

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Strategies & Market Trends : Trading SPY and DIA for Fun & Profit

SPY 681.89

+0.3%

Oct 31 5:00 PM EST

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To: CatLady who wrote (30)	1/29/1998 5:22:00 PM
From: James F. Hopkins	Read Replies (1) of 130

CatLady; I just trade small on this SPY thing as I'm still getting a feel for her. Options I think would put me more at risk than I'd be comfortable with. But I would like to look at them. I suspect the big traders play put/call spreads aginst long/short positions. Like if they have calls bought they can use them to cover large short positions, they buy puts also when they short, then at the bottom of the curve they cover short go long with the puts for cover, and maybe buy more calls futher out, at the top they sell the shorter calls, buy puts futher out, and agine short the stock, then at the bottom sell the shorter puts before they go long. I would have to look at the options trade for a bit, and compare the premium moves to the stock moves, to confirm any of this. Jim

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