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Strategies & Market Trends : Tech Stock Options
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To: donald sew who wrote (50281)8/19/1998 11:10:00 PM
From: dennis michael patterson  Read Replies (2) of 58727
 
Don: today I traded Sept 535 OEX put contracts. One trade: in at 11 out at 12 3/4. I bought when the market was up 50 and sold when it was down 45. I am a novice at options trading. I noticed that when the trend starts to accelerate the bid and ask both tighten up and jump. Then, when the trend stalls, the spread widens and the move backs up. For example, when the market broke down 25 near the end of the day, the bid jumped from 11 3/4 to 12 1/2. I put in a limit sell at 12 3/4 and got taken out as the bid went to 13 then dropped back to 11 3/4 and then ended at 12. I had to hang on the screen the entire time. My experience is that to trade OEX options, you've got to be there every second to max out the gains. If you wash the dishes, you lose out! I cannot trade like this very often. It just takes too much time! I think I am telling myself this may not be for me. I need something a touch less time-intensive. But wow was it profitaable! It made selling Dell yesterday less painful!
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