Telebras (TBH) & Brazil Message Board

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Strategies & Market Trends : Telebras (TBH) & Brazil

TBH 0.956

-0.1%

Nov 25 3:59 PM EST

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To: Sonki who wrote (1243)	3/19/1998 2:19:00 PM
From: Steve Fancy	Read Replies (2) of 22640

Sonki, I certainly don't recommend naked puts for anyone who feels uncomfortable with them. I have had great success for almost a year now, largely the result of TBR. Other than this month, I have consistently generated a return of 15% to 23% per MONTH return on margin. When TBR was in the 90-100 range it really was a no-brainer IMO...not like selling puts on a high flying tech stock. The decisions are getting harder, I have to wait till I'm confident with new trading ranges. Fortunately when the stock tanked from 145 last fall I was in a state of indecision and was able to get in at a bottom. I believe all my trades are documented on this thread. Everybody has to do what works, and TBR until recently was the most volatile stock I know...perfect for selling naked puts. I was able to get 4 1/2 - 5 1/2 for options 5-8 points out of the money with 2-4 weeks to go. Now however, I'm only getting 5 1/2 for options 2 1/2 points ITM with 4 1/2 weeks to go. May look at buying some calls, but for the moment the stock (which is gonna get called this Friday at 120) and the naked puts have been good to me. I haven't had a single loss on this stock in close to a year. I can afford to be a little braver with my stock getting called...will probably get back in on a dip via naked puts. I guess the question is will it dip...lot of news should be upcoming. Seems the news is out per Smart Money that some of the TBR spinoffs may have to traded OTC and it dosen't seem to have had a negative impact. I believe the smaller units will ultimately trade on the Nasdaq. The Nasdaq seems to be getting aggressive and recently set an office up in Brazil to recruit business. I believe they want TBR. sf

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