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Technology Stocks : AOL Options for the Bearish
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To: White Shoes who wrote (14)3/2/1998 4:23:00 PM
From: James F. Hopkins   of 33
 
White; I don't mean to sound like a know it all, but you do need
to focus on one thing and get it right . and make money on a
consistant basis with it before you take on the whole specturm.
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I have seen people do good paper trading then when they start with
real money lose like crazy. ( this happens a lot)
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You seem to want to do puts..( or short ) so to speak,
well keep it simple till you know you can beat the market.
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You will have to look at a lot of options ( AS THEY TRADE )
to understand ( the hidden spread ) as I call it..it's the
way options skew when the stock itself reverses.
Due to the floor bidding that you don't see.
They can see the amount of buy/sell orders not filled yet,
and they know which way she is going to trade, at least for
the next 30 min or so, When I worked AOL I had two screens
running all the time..one on the stock and one on the
options, and I can tell you for a fact the floor traders
on this stock know what they are doing.
-----------------------------------
I simple wanted to warn you off on uncovered calls,
and save you some real pain. But that may have been hasty
as I doubt your broker will let you write them anyway.
Unless he is a real jerk.
------------
Jim
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