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Strategies & Market Trends : The OEX... gasp!
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To: steve susko who wrote (315)1/9/1997 7:36:00 PM
From: Patrick Slevin   of 658
 
Perhaps you cannot watch this thing minute-to-minute. So here's my suggestion.

I tend to agree with these guys here who trade on terry bradford's rec. that the market moves up higher strongely in the next week.

But there are a lot of naked calls being written at the "AM"s, and a lot of puts being bought at the close.

So if I could not watch it l would wait for a selloff and go long calls at or just out of the money, determine what you would believe to be a reasonable profit? and put it in to sell there.

As the expiration nears, guys like you and I are going to be getting out of these positions, putting the arb's in control of the calls. These guys are not going to lose money on this.
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