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Strategies & Market Trends : DayTrading the OEX

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To: Aaron Weiss who wrote (60)6/4/1998 10:52:00 AM
From: Steve Robinett  Read Replies (1) of 94
 
Aaron,
<<I just got stopped *into* some OEWRH's (OEX June 540 Puts) at 20!>>
As you can tell by my post to Jef, I think the probabilities at the moment favor the upsides, but my question doesn't have to dow with that. Why are you buying very expensive deep in the money puts? Are you trying to get them deep enough in the money so you're playing mostly intrinsic value with very little premium, i.e., trying to get point for point with an OEX drop? You don't have to go 20 points into the money to do that. Am I missing something?
Best,
-Steve
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