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Strategies & Market Trends : Waiting for the big Kahuna
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To: Bilow who wrote (15843)4/9/1998 12:44:00 AM
From: Marq Spencer  Read Replies (1) of 94695
 
You can get 10x-20x returns if the S&P falls to even 1040, or so, by setting up an April spread in Puts with strikes $5 apart for about 0.25 to 0.50. For example buy 1070 put at 5 3/4, write 1065 put at 5 1/4. If the index stays above 1070, you've lost 0.50, if it gets below 1065, you get $5.00 for 10x return. The difference between 1045 and 1040 Puts is a quarter for a 20x return, etc. If the S&P moves up 10-15 points tomorrow, you can even set these up at higher strike points.

- Brian.
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