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Technology Stocks : Alcatel (ALA) and France
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To: hoyasaxa who wrote (164)10/30/1998 4:55:00 PM
From: Steve Fancy  Read Replies (1) of 3891
 
jg, I hear ya on options. I generally trade options no more than three months out. I actually prefer to short or sell puts, but am still trying to unbury from a nasty situation I got into with this strategy and TBR. When selling options, time value works for you. When buying calls, the stock has to go up to make money. Made a ton of money selling naked puts on TBR for about seven months ending in March. Back in APR or May my position backfired on me and I didn't follow my own rules and made the number one mistake...kept convincing myself why the stock was coming right back. Oh well...moral of the story is you need to be very careful with options and follow rules defined through experience. There are only certain times to play short term options and I decided two days ago that ALA's time had come.

Anyway, I'll see if I can post SBC Warburgs latest research report by Monday.

Regards,

sf
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