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Strategies & Market Trends : Tech Stock Options
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To: Jerry A. Laska who wrote (49386)8/6/1998 12:07:00 AM
From: nycnpbbkr  Read Replies (1) of 58727
 
Jerry the best way to sell an option under these conditions is with a limit sell. Think of it as a big wave that crashes onshore and runs quickly up and down the beach. You have to stick your mark on the beach somewhere where you feel the water will just run over you. That way they have to fill you before they can print ANYTHING higher. If you put a limit on a put option at say 18 3/4 and the market falls but comes back in seconds like today, If the option trades anything higher than 18 3/4(say it trades 18 7/8) your done. Either way even if the exchange comes back with "nothing done" your broker will make sure that your done. For the mere reason that who ever paid 18 7/8 for their option would rather pay 18 3/4. My experience tells me this is the best way to sell in a "Fast Market"
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