Mike(see, much less formal now,ggg) Thanks much for your thoughts. I was pleased, as a novice trader, to have some of your recommendations; MER puts, IIX puts and AMZN puts(lots).I like your ideas on futher out index puts and the strike price strategies; in this market, I take it the idea is to give yourself more latitude in time to catch the downswing and your profit, as compared to near term, and I'll sleep better with the volatility of late. Had to wear my cervical collar recently, like with Tuesdays rally watching my OEX near termers tank. With any luck Slick Willy's report card will let me move the Sept puts out to Nov, etc, with grace. Your help is greatly appreciated. vocex |