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Strategies & Market Trends : DayTrading the OEX

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To: the options strategist who wrote (26)5/18/1998 6:46:00 PM
From: Steve Robinett   of 94
 
Jen,
It doesn't matter that the 560 calls are a long way out of the money. If you want to get a rough idea of what they would be worth with a five point upmove, look at the bid on the 555 calls (OEWFK). Now if you're going to sit there and wait until the June expiration, then it's nuts buying 560 calls, but with five weeks to go until expiration the 560 calls still move when the OEX moves. I'll let you know how this idea turns out.
Best,
-Steve
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