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Strategies & Market Trends : Canadian Options
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To: Porter Davis who wrote (909)3/20/1998 12:05:00 PM
From: fellowfool  Read Replies (1) of 1598
 
I certainly wish you the best today and hope you come out on top. I have been following this thread and in particular, your posts, in an attempt to understand options trading from the market maker's point of view.

I don't have a position in BLD although I wish I had bought into it when I first became aware of it (last summer). It does seem to be moving up on pure speculation, so perhaps there will be another opportunity...What I am wondering is what exactly do you, as the specialist do in order to hedge your position when you are forced to sell puts cheaply and buy them back for such a loss? Do you short the underlying or just sell from stock you own? Or do you only deal in options? I am really confused about this. (Refering to your post #900.) Perhaps, when things quiet down a bit and you have a spare moment, you could walk us through an example.

I am sure that I am only one of quite a large number of people who are very appreciative of the time and trouble you take in posting in this thread.

Thank-you and best wishes.
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