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Gold/Mining/Energy : Strictly: Drilling and oil-field services
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To: SliderOnTheBlack who wrote (31443)11/4/1998 2:51:00 PM
From: Broken_Clock  Read Replies (1) of 95453
 
Slider, the market looks tired, including osx. A conservative strategy might be selling deep in the money calls for jan, Feb, etc. next year. For protection, a portion of the proceeds could be used to purchase out of the money cheap calls in case the osx rallies further...perhaps on the osx itself. If osx retreats, the individual stock calls can be repurchased cheaper down the line and profit is protected. Steve Sohn and Thean used this strategy effectively earlier this year. Doing nothing is probably the worst scenario...since success is then keyed on the market rising further, which seemss like a 50/50 deal at best.
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