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Pastimes : Ask Steve
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To: Imuah who wrote (417)12/7/1996 7:31:00 PM
From: hpeace   of 4749
 
thread.. I think that where I depart from what the pros say about options is...

this is my covered call business

1. I stress patience more
2. I stress no greed more
3. I say pull your profit off the table each month
don't diversify past a point where you don't know the stock intimately
but you have to be impersonal..you want a bull stk but you have to be prepared to do 100% prot. put position
4. stk needs to be very very volitle but not bec. of fundamentals of
company
5. don't step into the positions at once. get your put on a rally and your upstrike call on a retreat.. own stock and sell the cc. these may all be at dif times. don't pay allot for the upstrke call you buy or the pp.
6. use alert realtime pager to give you realtime quotes contantly during the day
7. quote,com has all the reseach and optin analyzer and news even to sending news to your email realtime.
8. of course study and practice allot first.
9. do not just buy calls and buy puts or sell naked allot.
selling a naked put is okay if you are out of stk and said I will buy at 25 and the stk is 30 then sell the np at 25. you want to buy anyway.
more and more compnaies are using this for their buyback programs.
10. the kolb , anbacher, mcmillian, cboe, trester mat'l are great
chen has added have a mm teach you. it's allot of what they do anyway.

I'll continue later.....
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