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Technology Stocks : INTERNET MANIA! Day Trading Net Stocks
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To: wiley murray who wrote ()12/23/1998 6:50:00 PM
From: Mr. Generic  Read Replies (1) of 1054
 
I'm new to SI and I was wondering if someone could further explain what I recently heard on a CNBC segment.

Up until now, I would place a good until cancel order about a half a point below market when I wanted to buy some stock and
let the specialists reach for it. That paid for my commissions. The same when I sold except it would be about half a point above market.

I recently heard a gentleman on CNBC explain in response to a caller's question that this was not the way to go. His recommendation was to sell a put at what you want to pay for the stock and you make money selling the put and if it gets to where the buy point is, you end up with the stock. He explained that this is no worse than a good until cancel order. It does the same thing. It sounds great to me except that I have never sold a put. I understand the mechanics of "buying" puts but still unclear about "selling" them to achieve my previous stated goal of obtaining the stock below market.

Could someone help me out here with a little more explanation or direct me to the proper discussion group where these kind of questions are discussed?

Thanks and Happy Holidays to all.

George
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