Roger's 1998 Short Picks Message Board

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Strategies & Market Trends : Roger's 1998 Short Picks

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To: Baghul who wrote (14915)	10/29/1998 6:27:00 AM
From: RockyBalboa	Read Replies (1) of 18691

For me it is a bit easier, as most of the NY trading time lies outside my worktime, wich starts at 2 AM EST. FIBR is doing a nice ride from 8 to 6-11 to 7 3/4, forth and back, but I am rather convinced that it will head lower. I was cut again with a short sale when I decided to reshort FIBR. This time I entered a sale at $7 1/2 and suddenly noted the bid going to 7 5/8 and traded prices going at 7 11/16. No surprise that the tape read 7 1/2 for my pieces, not the bid. Silly games. This never happens on the NYSE, where you either get the bid or the last traded. AMZN was surprisingly strong aftermarket going from 114 to 119 3/4 till 17:00. I don't know what it takes to bring it down. Options on AMZN are so expensive and the implied volatilities need a far swing to pay off anything. To all: How much $$ is the initial margin requirement for the short calls when I do 20 contracts of a reverse combo (sell 20 call 120, buy 20 put 120) at TradeOptions or any other options Broker ? TIA C.

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