Manohar Kanuri;
Options on margin, wow? Yes but there is a difference between gambling and calculated risk. Armed with the fore knowledge I possessed, I passed from one category to another. I calculated that statistically, my chance was about 75% in favor and by buying Feb. Calls, in the money, I cut the risk to about 10%. Then, by selling at less than the minimum price increase of 18% during the last eight years or 35, I cut it again, to almost zero. I was so sure of my statistics I felt I could afford to handle it as a margin play. You don't really think that I would do something I haven't done for 10 years, on margin to boot unless I was almost certain? This was a very rare opportunity and I see it that way. I won't try to duplicate it on a regular basis. If I want to gamble I can always go to Vegas and get my ass kicked. At least, their polite. On Wall St., after they take you, they slam the phone down in your ear. The only thing I'm sorry about is that I was too chicken sh t do it for 100 contracts instead of 40. I guess, that's what I would call age and gravity catching up with me. Happy Trails.
PHOTOMAN
P.S. What is OT....? |
