kory, investing in options isn't always gambling (no more so than investing, anyway) - depends on your system. remember, this long term game is also gambling. how, you ask? what % of high tech companies in the 70s exist today? well, anyway, zenith investors learned that the long haul sometimes means complete obliteration.
i must say, as i do deal in reality, that i understand the system to drastically reduce risk, however, i do admit that i'm more on the gambling side. i take lots of risk. i do company diversify and time diversify. i do also tend to buy puts further out in time b/c it often takes the herd, with an inherent bullish stance, a while to learn that rosy scenario ain't gonna show up.
my sept 55s were an exception and i done got burned ;-) however, many longs that bought at those high levels lost a lot more than i did - but they aren't gambling, huh?;-)
we'll see what today may bring. tomorrow and the near to medium term also will be interesting. we do live in fascinating times. |
